Monday, August 2, 2021

SAIL reports consolidated net profit of Rs 393.32 cr in September quarter of Financial Year 2020-21

Steel Authority of India Ltd (SAIL) has reported a consolidated net profit of 393.32 crore rupees during the September quarter of Financial Year 2020-21, as against a loss of 342.84 crore rupees during the same period last year.

The public sector steel manufacturing company said that the turnaround can be attributed to the increase in domestic demand as economic activity picked up in the second quarter.

SAIL has also registered an impressive growth of 31.3 per cent in sales during the second quarter in the current financial year compared to the corresponding period last year.

Speaking on the turnaround results Chairman, SAIL, Anil Kumar Chaudhary, said, the Company is determined to perform better in future and is geared up to take all necessary actions to remain a world-class domestic steel producer towards building an Atmanirbhar Bharat.

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