SAIL reports net profit of $269 million for FY 2019-20

Monday, 13 July 2020 14:38:20 (GMT+3)   |   Kolkata
       

Indian state-run steelmaker Steel Authority of India Limited (SAIL) has reported a profit after tax of INR 20.210 billion ($269 million) for the fiscal year 2019-20, according to a company statement.

The company has posted a profit before tax of INR 31.700 billion ($422 million) for the fiscal year 2019-2020, the statement said.

SAIL’s total turnover in the given year came to INR 610.240 billion ($8.136 billion) and earnings before interest, tax, depreciation and amortization (EBITA) on per metric ton of steel basis was reported at INR 7,869 ($104.92) in FY 2019-20, an improvement from INR 7,284 ($97.12) in the previous fiscal year.

The state-run steel producer reported exports of 1.18 million mt for the given year, up 54 percent year on year and constituting the highest-ever overseas shipment of steel in the history of the company.

In the fiscal year, SAIL emerged as the largest domestic crude steel producer recording a production of 16.15 million mt. The company produced 15.083 million mt of saleable steel in FY 2019-20, the highest-ever in its history and also emerged as the largest miner of steelmaking inputs, producing 42.406 million mt of iron ore, fluxes (limestone and dolomite), coking coal and non-coking coal, the company said in its statement.

$1 = INR 75.00


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