Steel Authority Of India (SAIL) Net Profit Rises 31% To Rs 3,470 Crore In January-March Quarter

SAIL Q4 Results: SAIL’s net profit rose 31 per cent to Rs 3,470 crore in March quarter

Steel Authority of India (SAIL) announced its January-March quarter results for the financial year 2020-21 on Friday, June 11, reporting a jump of 31 per cent in net profit to Rs 3,470 crore on a consolidated basis. According to a regulatory filing by the company to the stock exchanges, SAIL’s net profit stood at Rs 2,647.52 crore in the corresponding quarter of the previous fiscal year. The company’s total income grew to Rs 23,533.19 crore in the March quarter of fiscal 2021.

According to the statement, the total income stood at Rs 16,574.71 crore in the corresponding quarter of the previous fiscal. The total expenses were Rs 18,829.26 crore, compared to Rs 11,682.12 crore in the year-ago period. The company is operating at a normal capacity following the gradual normalisation of economic activities.

The company’s board of directors declared a final dividend at Rs. 1.80 per equity share of Rs. 10 each – 18 per cent of the paid-up equity share capital of the company, said SAIL in its filing to the BSE. SAIL produced 4.56 million tonnes during the fourth quarter of fiscal 2020-21, up six per cent over the year-ago period. The sales jumped 11 per cent to 4.42 million tonnes.

On Friday, June 11, shares of SAIL settled 5.06 per cent higher at Rs 135.05 apiece on the BSE. SAIL opened on the BSE at Rs 131.25, swinging to an intra day high of Rs 135.70 and an intra day low of Rs 129.45, throughout the session today. Share price of SAIL rose more than five per cent during the session today.