The steel major recently declared its financial performance results for the third quarter of current financial year (Q3 FY21) and nine months. Steel Authority of India Limited (SAIL) reported a consolidated net profit of Rs. 3645 Crore profit before tax in Q3.
Key highlights of Q3 FY21:
Hot metal production é12% at 4.8 MT, over CPLY
Crude steel production é 9% 4.37 MT, over CPLY
Saleable steel production é 6% at 4.15 MT, over CPLY
Total sales (domestic + exports) of 4.15 MT * (MT is Million Tonnes)
SAIL Chairman, Ms. Soma Mondal, commented, “The worst is behind us. SAIL has shown overall improvement during the current financial year despite all the challenges. With the focus on seizing opportunities, the company has geared up to service the rising steel demand in the market as soon as the gradual opening of lockdown started. It has always been SAIL’s strategy to operate in sync with the market situation. As we look ahead, we are confident of improving the performance further in the remaining period of the financial year.”