SAIL Q1 Results: 84.4% YoY fall in net profit at Rs 212.5 crore

The state-owned Steel Authority of India Ltd (SAIL) reported on Thursday that its net profit for the first quarter that ended on June 30, 2023, fell by 84.4% YoY, at Rs 212.5 crore.

SAIL had a net profit of Rs 805 crore for the comparable period last year, the company said in a regulatory filing. 

Total revenue for the quarter was Rs 24,359.1 crore, an increase of 1.4% above Rs 24,028 crore during the same time the year before.

EBITDA decreased by 28.4% to Rs 1,648 crore in the first quarter of this fiscal year compared to Rs 2,301 crore in the same time last year.

EBITDA margin was 6.8% in the reporting quarter as opposed to 9.6% in the same period of the prior fiscal year. 

The results were announced after the market had closed.

Source: Media Reports