SAIL profit rises in Q1
Declaring the results for the Q1 FY 2018-19 (Q1 FY19), Steel Authority of India Ltd. (SAIL) posted a PAT of Rs 540.43 Crore. SAIL’s turnover in Q1 FY19 rose by 22.42% over CPLY to Rs 15,743.21 Crore. The EBITDA in Q1 FY19 was recorded at Rs 2685.46 Crore which was Rs 22.71 Crore in CPLY, indicating an acceleration of the overall performance of the Company through concerted efforts of the entire collective.
SAIL is bringing comprehensive improvements in its entire operations which are backed by efforts for improving efficiencies and improved techno- economic parameters. In the first quarter of FY 19, Company’s saleable steel production was 3.61 Million Tonnes (MT) which rose 13% over CPLY. The Company’s sales volume at 3.271 MT in Q1 FY19 was also 8% higher over CPLY and the EBITDA per tonne of sales at Rs 8211 for Q1 FY19 reflects a robust functioning of all the processes. The Company recorded improvement in all the techno-economic parameters including Coke Rate by 3%, Blast Furnace productivity by 2% and Specific Energy Consumption by 3% over CPLY.
Speaking on the occasion, Chairman, SAIL Shri Saraswati Prasad said that operational performance of the company has recorded improvement over the past many quarters and this trend is likely to continue. SAIL has taken several new initiatives which will help the Company in improving its physical and financial performance.