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SAIL’s net profit jumps to Rs 1,468 crore in Q3 quarter

Its total expenses stood at Rs 16,406.81 crore, compared to Rs 17,312.64 crore a year ago.

SNS | New Delhi |

The net profit of SAIL jumped to Rs 1,468 crore in the quarter ended on December 2020, mainly on account of higher. The state-owned steel maker had posted a net loss of Rs 343.57 crore during the same quarter a year ago

The total income jumped to Rs 19,997.31 crore during the quarter under review as compared to Rs 16,714.87 crore in the year-ago period.

Its total expenses stood at Rs 16,406.81 crore, compared to Rs 17,312.64 crore a year ago.

In a statement, SAIL said it produced 4.37 million tonnes (MT) crude steel, registering a growth of 9 per cent over the corresponding period last year.

During the October-December quarter, the company witnessed a rise of 6 per cent to 4.15 MT of saleable steel.

SAIL Chairman Soma Mondal said, “SAIL has shown overall improvement during the current financial year despite all the challenges. With the focus on seizing opportunities, the company has geared up to service the rising steel demand in the market as soon as the gradual opening of lockdown started.”

SAIL, under the Ministry of Steel, is the country’s largest steel maker having an installed capacity of about 21 million tonnes per annum.