SAIL's Q2 net loss at Rs 329 crore

11 Nov 2022 , 09:26 AM

The largest steel manufacturer in the nation, SAIL, is part of the Ministry of Steel and has an installed capacity of more than 20 million tonnes annually (MTPA) SAIL, a state-owned company, entered the red on Thursday after reporting a combined loss of 329 crore rupees for the three months that ended on September 30, 2022.

In a BSE filing, SAIL reported that its net profit for the July through September fiscal period was Rs 4,338.75 crore. The company also disclosed a decrease in overall revenue, which fell to Rs 26,642.02 crore from Rs 27,007.02 crore in the same quarter last year.

As opposed to Rs 21,289 crore in the same time last year, its expenses rose to Rs 27,200.79 crore. The output of crude steel and sales have both decreased, according to SAIL. From 4.47 MT in July to September period of FY22, its crude steel output decreased to 4.30 MT during the quarter under review. Sales decreased from 4.28 MT to 4.21 MT a year earlier.

There was no response to a question asking the chairman about the company’s financial and operational performance in the September quarter. The largest steel manufacturer in the nation, SAIL, is part of the Ministry of Steel and has an installed capacity of more than 20 million tonnes annually (MTPA).

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