SAIL Q4 results: Steelmaker reports net profit of Rs 2,022 crore

SAIL Q4 results: Steelmaker reports net profit of Rs 2,022 crore

Kolkata: SAIL has earned a net profit of Rs 2,021.54 crore in FY’20 on a turnover of Rs 61,024.88 crore. The net profit for the year was a shade below the previous year’s figure of Rs 2179 crore.

The company also reported a Profit Before Tax (PBT) of Rs 3,170.66 crore in spite of the challenging market conditions including the onset of the coronavirus pandemic, an official statement said.

SAIL said EBITDA per tonne of Saleable Steel improved from Rs 7,284 in FY19 to Rs 7,869 FY20. The company’s EBITDA/Turnover figure stood at 18.35% in FY20 in comparison to a figure of 15.52% in the same period last year.

Along with this, SAIL also achieved its best ever 14.23 million tonne (mt) annual sales during FY20. SAIL’s exports touched 1.18 mt in FY20, achieving its highest-ever export volume with 54% growth over the previous corresponding period.

Anil Kumar Chaudhary, chairman, SAIL said: “SAIL has continued to earn profit consecutively for two years despite the challenging times. The government’s supportive policies have played a pivotal role in maintaining the profitability of the company.”

Source: ET Markets

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