Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter ending 30th June, 2024.During Q1 FY’25, the Company’s EBITDA grew by more than 15% over the corresponding period last year (CPLY), indicating its steady core performance. However, revenue from operations was affected by a decline in Net Sales Realization (NSR) in the domestic steel market due to cheap imports. The profit for Q1 FY’25 was impacted by lower NSR and adjustments related to exceptional items.
Shri Amarendu Prakash, Chairman, SAIL, commented on the Q1 performance stating, “Domestic steel consumption continues to grow steadily, driven by both traditional and emerging sectors. Additionally, ongoing Government investments in the infrastructure sector, as announced in the recent budget, are expected to bolster growth. With a positive outlook for the domestic steel sector, SAIL is focused on increasing its production volumes. The challenges posed by cheaper imports are anticipated to be addressed appropriately in the future”.