New Delhi: Steel Authority of India Limited (SAIL) declared profit before tax (PBT) of Rs 103.93 croreand profit after tax (PAT) of Rs68.84crore in Q1 of FY 20.

“The volatile market conditions, which have led to subdued demand as well as realisations, have impacted the performance of the entire steel industry including SAIL”, said a Company press release adding, “Accordingly, SAIL witnessed a reduction in its top-line as well as bottom-line despite having consistent physical performance.”

Meanwhile, SAIL is maintaining the tempo of improving its physical performance and has registeredits best ever Hot Metal and Saleable Steel performance for Q1 at 4.323 million tonnes (MT) and 3.653 MT respectively. Despite the challenging market conditions, SAIL achieved Saleable Steel sales volume of 3.249 MT during the first quarter of FY’20 which was almost equal to the performance during CPLY.

The salient features of SAIL’s performance are given below:

ItemQ1 FY 2019-20Q1 FY 18-19
Hot Metal Production4.323 MT4.266 MT
Crude Steel Production3.930 MT3.945 MT
Saleable Steel Production3.653 MT3.613 MT
Sales TurnoverRs 14,645.19 CrRs 15,743.21 Cr
EBITDA (before exceptional)Rs 1766.33 CroreRs 2685.46 Crore
PBTRs 103.93 CroreRs 827.84 Crore
PATRs 68.84 CroreRs 540.43 Crore

SAIL chairman Anil Kumar Chaudhary, said, “The domestic steel industry has witnessed lower NSR and subdued demand during the first quarter of the financial year compared to CPLY. However, with the government announcing planned investments in steel intensive sectors including infrastructure & construction, a positive impact can be expected for the industry for the rest of the financial year. Coupled with this, the Company’s strategic priorities to ramp up volumes especially from the modernized units, improving product-mix   and improving operational efficiencies lend a positive outlook to the Company’s future. Inspite of market challenges, the Company has continued its profit streak over past years.