SAIL Q1 turnover increases by 22.42% -Governance Now

SAIL Q1 turnover increases by 22.42%

SAIL Chairman says that operational performance has recorded improvement over the past many quarters and the trend is likely to continue

GN Bureau | September 5, 2018

#SAIL #steel #profit #Saraswati Prasad

Steel Authority of India Ltd. (SAIL) has clocked a profit after tax (PAT) of Rs 540.43 crore in the first quarter (Q1) of current fiscal. SAIL’s turnover in Q1 2018-19 rose by 22.42 per cent over corresponding period of the last year to Rs 15,743.21 crore.

SAIL claims that it is bringing comprehensive improvements in its entire operations, backed by efforts for improving efficiencies and improved techno- economic parameters. In the first quarter of the current fiscal, the PSU’s saleable steel production was 3.61 million tonnes (MT) which rose 13 per cent over CPLY. The company’s sales volume at 3.271 MT in Q1 FY19 was also eight per cent higher over CPLY. It recorded improvement in all the techno-economic parameters including coke rate by three per cent, blast furnace productivity by two per cent and Specific Energy Consumption by three per cent over CPLY.

Chairman, SAIL Saraswati Prasad said that operational performance has recorded improvement over the past many quarters and the trend is likely to continue. SAIL has taken several new initiatives which will help the Company in improving its physical and financial performance.

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