SAIL Earns Net profit Of Rs 3850 Crore In First Quarter Of FY’22

New Delhi: Steel Authority of India Limited (SAIL) has declared the financial results for its First Quarter (Apr – June’21) which reflects a robust performance in the Q1 FY 2021-22. Commenting on the robust performance of the company,  Soma Mondal, Chairman, SAIL said, “The Company has been consistently seizing available opportunities to move up the value chain. The performance during the quarter bears the testimony to objective-driven strategy and resilience by the SAIL Collective despite the adverse impact of the dominant second wave of COVID-19. Though the demand for steel products in the quarter has not had the same momentum as during Q4 of FY’21, focused interventions in several areas of operations have helped in achieving this robust performance. The demand in the latter part of the year is expected to remain healthy with sustained domestic consumption coming from sectors like infrastructure, manufacturing, packaging, automotive, etc. as indicated from the present consumption cycle and future sectoral trends.

Key Highlights of SAIL’s performance during Q1 FY’22

Crude Steel Production: 3.770 Million Tonnes

Saleable Steel Sales: 3.327 Million Tonnes

Revenue from Operation:  Rs. 20642 Crore

Reduction in Gross Borrowings during the Quarter: Rs. 5063 Crore