New Delhi, May 30, 2018|Steel Authority of India Ltd. (SAIL) announced its financial results for the fourth quarter of the Financial Year2017-18 (Q4 FY18) and for FY18. After returning to profits in Q3 FY18, the Company in Q4 FY18 recorded aNetProfit of Rs.816 Crore reaffirming SAIL’s positive performance. This comes after making a provision of Rs.582 Crore towards enhanced gratuity recently approved by Government of India. All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18.
SAIL management’s sustained efforts for process integration starting from production till reaching the customers, the intensive marketing efforts along with ramping up of production and stabilization of new mills are all yielding results and a novel end-to-end approach with its new product offerings is helping the Company achieve a stronger position.
Company’s Net Turnover in Q4FY18 of Rs. 16,811 Crore saw an increase of 34% over CPLY. The Q4FY18 EBITDAat Rs.2,624Crore, a humongous growth over Q4 FY17, is highest in the last twenty-seven quarters.The EBITDA per tonne of sales for Q4 FY 18 is Rs.7020. The total sales volume in Q4 FY18 was 3.738 Million Tonnes (MT) which increased by 8.4% over CPLY.
