SAIL’s net loss declines to Rs 730 cr -Governance Now

SAIL’s net loss declines to Rs 730 cr

Standalone income of SAIL increases by 21 per cent to Rs 12,577.90 cr in July-Sept quarter this fiscal from Rs 10,378.91 cr during the same quarter last fiscal

GN BUREAU | December 9, 2016

#standalone #coal prices #psu #SAIL

Country’s largest steelmaker-- Steel Authority of India Limited (SAIL) on Thursday claimed of registering slump in standalone net loss at Rs 730.72 crore for the quarter ended September 30, helped by a strong marketing push and cost optimisation measures, reported Press Trust of India (PTI).

The agency reported that the SAIL had posted a net loss of Rs 1,108.55 crore in the year-ago period.

Total standalone income of the Maharatna firm rose by 21 per cent to Rs 12,577.90 crore in July-September quarter this fiscal from Rs 10,378.91 crore during the same quarter in 2015-16.

Its total expenses were higher at Rs 13,132.04 crore during the period under review, compared to Rs 11,836.11 crore in the corresponding period last year.

SAIL Chairman P K Singh said that despite surging coal prices, SAIL is working on a holistic strategy to remain competitive by reducing our cost, faster ramping up of new facilities and aggressive marketing.

“In tandem with the country’s impressive economic growth among large economies, the domestic steel consumption is rapidly growing which, coupled with growth oriented policies of the government, will see further improvements in future, the agency quoted Singh as saying.

In these difficult market conditions, SAIL management’s suitably tailored marketing strategies, customer and market centric approach and the concerted efforts to ramp up production from the modernised facilities resulted in sales growth across all product categories, the steelmaker said.

Also in keeping with its focus to increase global footprint, SAIL’s exports more than doubled in the first half this fiscal, it added.

Comments

Other News

How Rafi, Raj Kapoor helped pave the way for a great uranium deal

There`s a certain moment in diplomacy that`s too personal to be captured in a communiqué, too small to make the front page, but more revealing than the front page. This week, prime minister Narendra Modi reached Tashkent and, amid the pomp of state visits, managed to evoke the old Bollywood tunes

Distinguishing Fish 1 and Fish 2: The pragmatism behind India’s WTO ratification

India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

The Constitution cannot be altered: Justice Abhay Oka

Justice Abhay Oka, who retired from the Supreme Court in May 2025, has said that the Constitution of India cannot be altered. Explaining the landmark Kesavananda Bharati judgment (1973) on the basic structure of the Constitution, he said, “This is one judgment that has saved democracy in India.&rdq

How the flora and fauna evolved in the Indian subcontinent

Mammals of India By A.J.T. Johnsingh and P.O. Nameer HarperCollins India in association with Bombay Natural History Society

India`s renewable race is moving beyond megawatts

When Shell bought Sprng Energy in 2022, India`s renewable energy market appeared to offer precisely what global energy majors were seeking: scale, growth and a place in one of the world`s largest energy transitions. Four years later, Shell is selling the same business to Aditya Birla Group for an enterpris