The Business Bytes
TBB BUREAU
NEW DELHI, FEBRUARY 09, 2022
Riding on higher income, state-run Steel Authority of India Ltd (SAIL) on Wednesday reported a 4.1 per cent rise in consolidated net profit at Rs 1,528.54 crore for the third quarter of the current fiscal (Q3FY22) as compared to Rs 1,468.20 crore in the year-ago period.
Its consolidated income during the quarter under review increased to Rs 25,398.37 crore, from Rs 19,997.31 crore in Q3FY21.
In a statement, SAIL said it has delivered one of its best physical performances during the quarter as well as nine months ended December 31, 2021.
The saleable steel production in the third quarter was 4.365 million tonnes (MT), compared to 4.153 MT in the corresponding quarter of previous fiscal.
While the crude steel production during the quarter was at 4.531 MT, hot metal production stood at 4.886 MT. The company added it has achieved the “best ever Q3 and 9M production of hot metal, crude steel and saleable steel.”
Its borrowings stood at Rs 19,128 crore as on December 31, 2021.
