SAIL posts 21% net sales revenue growth -Governance Now

SAIL posts 21% net sales revenue growth

The steel enterprise also registered 30 percent improvement in sales of railway products

GN Bureau | November 11, 2017

#PSU #SAIL #railway

Steel Authority of India Ltd has added another feather to its cap by registering 21 percent growth in net sales revenue of Rs 13,442 crore in the second quarter of current fiscal. In the corresponding period last year, the PSU clocked Rs 11,080 crore.

SAIL’s emphasis on increasing the share of high value products has begun to yield positive revenue results. It posted four percent growth in domestic sales in the first half of current fiscal with 21 percent improvement in sales of high value products like cold rolled and galvanized products. There has also been a sizeable 30 percent improvement in sales of railway products during the same period.

Registering positive EBITDA (earnings before interest, taxes, depreciation and amortization) for the sixth consecutive quarter, SAIL achieved EBITDA of Rs 967 crore before exceptional expenses in Q2FY18, recording a growth of more than 400 percent.

SAIL chairman PK Singh said, “Our focus on reducing operating cost of assets, prudent finance management, efficient production process and increased share of value added and branded products has started showing results. SAIL is aiming to supply large quantities of steel in prestigious projects including Sagarmala, upcoming Bharatmala project and railway expansion”.

Comments

Other News

`Focus on infra, reforms, digital connectivity has created strong foundation for growth`

In a step towards the operationalisation of the Bharat Audyogik Vikas Yojana (BHAVYA), union minister of commerce & industry Piyush Goyal launched the BHAVYA Portal on Monday in New Delhi. Addressing the gathering, Goyal said that the BHAVYA scheme will adopt a competit

Govt, RBI announce major reforms to attract FPI

The finance ministry on Friday announced a series of measures aimed at enhancing the ease of investment for individual Persons Resident Outside India (PROIs) and Foreign Portfolio Investors (FPIs), and to attract stable long-term foreign capital flows. Building on the recent in

Lessons in climate adaption from world’s largest inhabited river island

Majuli Island, perched between the Brahmaputra River to the south and east, the Subansiri River to the west, and a branch of the Brahmaputra to the north, has been severely affected by recurrent flooding and intense riverbank erosion. Despite its global importance in acquiring UNESCO tentative status for

Careless whispers and the impossible trinity

Time can never mend, the careless whispers of … As the RBI marches ahead, for the upcoming monetary policy meeting this June, whispers from the corridors echo around several policy options to defend the rupee – by deploying forex reserves, raising in

Bullet Train Project: Third mountain tunnel breakthrough achieved

A major engineering milestone has been achieved in the Mumbai–Ahmedabad Bullet Train Project with the successful breakthrough of the third mountain tunnel (MT-07) at Ambesari village in Dahanu Taluka of Palghar district, Maharashtra. With this achievement, three mountain

Supreme Court gets five new judges

Five new judges were appointed to the Supreme Court of India on Monday. "Vide Notifications of even number dated 01.06.2026, in exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the Hon’ble President of India is pleased to appoint (i) Shri