Steel Authority of India Turns Around Profit in Q3 2018

The Steel Authority of India (SAIL) announced that it had earned Profit Before Tax (PBT) of Rs 82 crore during the third quarter of 2018 (Q3 2018) after ten quarters.

This marks a distinct step in the turnover of the company which continually thwarted challenges and has steadily moved forward towards profitability.

The company has registered EBITDA of Rs 1,571 crore for the third quarter of 2018, as against Rs 35 crore reported during the third quarter of 2017. EBITDA per tonne of steel for the third quarter of 2018, is Rs 4162 as against Rs 107 during the third quarter of 2017, it grew more than 50% over the second quarter of 2018.

Steadily increasing the production ramp up from the new mills, SAIL is targeting higher sales volume coupled with more value added and enriched products. The company's strategic planning on production and marketing front, including newer domestic and potential export destinations, has helped SAIL achieve the strong result and start its journey of returning to profits.