05/09/2014
Steel Authority of India Limited (SAIL) registered an
impressive performance by achieving Profit Before Tax
(PBT) of Rs 613 Crores for the April-June, 2014 quarter.
PBT was 18 % higher than the profit of Rs 521 Crores
achieved during the corresponding period last year
(CPLY). During the same period, SAIL also achieved a
turnover of Rs. 12,515 Crores registering a growth of 10%
over CPLY.
The unaudited financial results of SAIL for the quarter
April-June ’14 were taken on record by its Board of
Directors on 11th August, 2014. The company’s Profit
After Tax rose by 18% to Rs 530 Crores during
April-June 2014 from Rs 451 Crores achieved during the
same period last year. During the first quarter of the
financial year, the net worth of the company increased to
Rs 42,980 Crores as on 30.06.14 as compared to Rs
41,476 Crores on 30.06.13. The management’s
continued emphasis on production and sale of value added products has enabled significantly higher Net Sales Realization (NSR)
which was better than the earlier quarters.
SAIL has already put into operation units worth Rs. 22,000 Crores of investments and the
modernization is reaching its completion at the right time which will enable the company to
reap the benefit of a rising steel demand, buoyed by the government’s continued thrust on
development. During the current financial year, significant progress has been made in the
Modernization & Expansion projects at Rourkela Steel Plant (RSP). With commencement
of production in RSP’s New 4.3 meter wide Plate Mill and the third 150 tonne BOF
converter, integrated operations in the modernized units of RSP has commenced.
IISCO’s massive modernization and expansion program is expected to be completed early
third quarter. The integrated commissioning is just a few steps away. Major facilities already
completed include Raw Material Handling Plant, a seven meter tall Coke Oven Battery
along with environment friendly dry quenching system, Sinter Plant and Wire Rod mill.
