Business Standard

SAIL Q2 results: Net profit drops 31%, revenue down to Rs 24,842 cr

State-owned SAIL on Thursday reported a 31 per cent fall in consolidated net profit to Rs 897.15 crore in the September quarter, dragged by lower income.

Q2 earnings, Q2

Press Trust of India New Delhi

Listen to This Article

State-owned SAIL on Thursday reported a 31 per cent fall in consolidated net profit to Rs 897.15 crore in the September quarter, dragged by lower income.

It had posted a Rs 1,305.59 crore net profit for the period ended September 2023, the company said in an exchange filing.

The company's total income decreased to Rs 24,842.18 crore from Rs 29,858.19 crore in the second quarter of preceding 2023-24 financial year. Its expenses stood at Rs 23,824.07 crore as against Rs 27,768.60 crore in the year-ago quarter.

In a separate statement, the company said its crude steel output fell marginally to 4.76 million tonnes (MT) from 4.76 MT in July-September last fiscal. Sales also decreased to 4.10 MT from 4.77 MT in the same quarter a year ago.

 

SAIL Chairman Amarendu Prakash said, "We expect H2 FY25 to bring more promising results compared to H1 FY25, which was impacted by various challenges. Moving forward, with an expected downtrend in steel imports and projected growth in GDP and capital expenditure, H2 FY25 may yield better performance.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 07 2024 | 8:05 PM IST

Explore News