SAIL declares more than Rs 550 Crore profit in Q2 FY19

The Steel Authority of India Ltd. (SAIL) declared a profit (Profit After Tax – PAT) of Rs 553.69 Crore during the second quarter of this financial year Q2 FY19. During the corresponding period over last year, the Company had posted a loss (after tax) of Rs 539.06 Crore. Over the previous quarter in Q1 FY19, the Company’s profit rose 2.5% in Q2 FY19. The turnover in Q2 FY19 was Rs 16,541 Crore, a 23% rise over CPLY and 5% rise over the Q1 FY19. Showing overall improvements including operational performance, the EBITDA for Q2 FY19 at Rs 2,473.54 Crore improved 156% over CPLY which was Rs 966.56 Crore. The numbers indicate a fast recovery in the Company’s profitability, operational performance and a collective effort towards driving the full advantage of modernization and expansion.