SAIL Q3 Results FY2023, Net profit at Rs. 463.54 crores

On 13th February, SAIL announced its results for the third quarter of FY2023.

Key Highlights:

- Revenue from operations was reported at Rs 25041.88 Crores.
- EBITDA stood at Rs. 2197.53 crores.
- PBT stood at Rs. 634.69 crores.
- SAIL reported a net profit of Rs. 463.54 crores for the quarter

Business Highlights:

- For the quarter, crude steel production was reported at 4.708 million tonnes. The Company has achieved the best-ever quarterly Crude Steel production during Q3FY23. The Company has been steadily increasing Crude Steel production in recent months.
- The sales volume in Q3FY23 also saw an increase over the corresponding period of last year.
- The challenging global situation and economic scenario all over the world had its impacts on steel prices affecting the margins of the steelmakers. However, with the Government's focus on enhancing capital expenditure in the infrastructure sector, domestic steel consumption is expected to witness an increase in the short to medium term.