Mumbai : State run, Steel Authority of India Ltd. (SAIL), FY18 recorded a net profit of Rs 816 crore in Q4 FY18. This comes after making a provision of Rs 582 crore towards enhanced gratuity recently approved by Government of India.
The company stated that all the five integrated steel plants of SAIL have also recorded individual profits in Q4 FY18. The company had posted a standalone net loss of Rs 771.3 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing, reports PTI.
The company’s net turnover in Q4 FY18 of Rs 16,811 crore saw an increase of 34 per cent over CPLY. The Q4 FY18 EBITDA at Rs 2, 624 crore, a humongous growth over Q4 FY17, is highest in the last 27 quarters. The EBITDA per tonne of sales for Q4 FY 18 is Rs7, 020. The total sales volume in Q4 FY18 was 3.738 million tonnes (MT) which increased by 8.4 per cent over CPLY.
The consolidated profit after tax of the Company stood at Rs (-) 281 crore for FY18 as against Rs (-) 2,756 in CPLY. The strategic and persistent approach to improve operational profitability assisted SAIL to stay EBIDTA positive in FY 18; recorded at Rs 5,184 Crore. The company registered highest sales volume for the year in FY18 at 14.08 MT which is higher by 7.4 per cent over CPLY.