×
E-PAPER ▾

E-paper

Business

Q1FY’18: Sail registers 26% growth in turnover

| | New Delhi

Steel Authority of India Ltd. (SAIL), registered a turnover of Rs 12,860 crore in the first quarter of FY’18 (Q1FY18) posting a growth of 26 per cent over the turnover of Rs 10,180 crore achieved in corresponding period last year (CPLY). In the same quarter, the total sales volume at 3.028 million tonnes (MT) recorded a 9 per cent growth over CPLY.

The Company's sales of finished steel (without semis) were also higher by 4.12 lakh tonnes during Q1FY18 as compared to Q1FY17, recording a 19 per cent growth. With Management’s intensive focus on ramping up of new mills and enriched product mix from the new facilities, SAIL continued to remain EBITDA positive (Rs 23 crore EBITDA in Q1FY18) in Apr-June’17 period. In the Q1FY18, Company bore an impact of 115 per cent higher price on account of imported coal and 25 per cent higher price on account of indigenous coal over CPLY, pushing down the overall profitability margin despite a 14 per cent higher Net Sales Realisations (NSR) over same quarter last year. The profit after tax (PAT) stood at Rs (-) 801 crore for Q1FY'18.  During the quarter, due to Cyclone Debbie the supplies of coking coal from Australia were adversely impacted, resulting in lower production volumes of saleable steel.

Chairman, SAIL, PK Singh said that, “We are maintaining positive EBITDA in spite of the challenging situation in the steel sector, and that shows the collective resolve of the Company. With the imported coal availability stabilising and focus on ramping up the new units, the situation will improve in coming quarters. We have drastically reduced production from inefficient units and are optimising the coal blend in operations to reduce costs. These steps will surely translate into improved financials going forward.”

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

N Korea blames US for tensions in rare UN talks

10 Dec 2017 | AFP | Seoul

North Korea blamed US "nuclear blackmail" for soaring tensions over its weapons programme in rare meetings with a senior UN official, but agreed to regular communication with the organisation, state media said today. Jeffrey Feltman arrived in Beijing today after wrapping up a five-day visit to Pyongyang aimed at defusing the crisis, just a week after North Korea said it test-fired a new ballistic missile capable of reaching the United States...

Read More

STATE EDITIONS

View All

NP University to go for skill development, placement drive to take place soon

14 Dec 2017 | PNS | DALTONGANJ

Following a directive from Secretary of Higher and Technical Education and Skill Development, Ajoy Kumar Singh, who in the meeting with the VCs the State universities on Tuesday in Ranchi asked to launch an intensive drive for the registration of the pass students of session 2015, 2016 and 2017 for placement, VC of Nilamber Pitamber University SN acknowledged going after this directive. Briefing newsmen here SN Singh said, “The...

Read More

Page generated in 1.6154 seconds.