Steel Authority of India posted a net profit of ₹43.16 crore in the third quarter of the current financial year (Q3FY18) against a loss of ₹794.84 crore in Q3FY17.
The company’s turnover went up 21 percent to ₹15,443 crore in Q3FY18 against ₹12,688 crore in Q3FY17, led by higher volumes and improved realisation. It posted a profit before tax (PBT) of ₹82 crore in the third quarter of the current financial year (Q3FY18) after a gap of ten quarters.
SAIL registered EBITDA of ₹1,571 crore during the quarter under review as against ₹35 crore during Q3FY17. EBITDA per ton of steel for the quarter at ₹4,162 was significantly higher than ₹107 in Q3FY17. On a sequential basis, it grew more than 50 percent over Q2FY18.
“This marks an evident step in the turnaround of the company which continually thwarted challenges and has steadily moved forward towards profitability,” the company said in a statement.
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Denne historien er fra March 2018-utgaven av Steel Insights.
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Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
