PSU steel-maker Steel Authority of India Ltd (SAIL) saw its operations turn profitable for the quarter ending September 30, 2023. It reported a standalone profit of ₹1,241 crore for Q2 FY24, against a loss of ₹386 crore.
The company reported ₹29,714 crore of revenue from operations, up 13 per cent year-on-year. Revenue in the year-ago-period was ₹26,246 crore.
Bhilai Steel Plant, followed by Rourkela Steel Plant and Bokaro Steel Plant, were the largest revenue generating units. Bhilai reported a revenue of ₹10,064 crore, followed by ₹7,179 crore by Rourkela Steel Plant and ₹6,877 crore by Bokaro.
In terms of profit, Bhilai reported the highest profit before tax at ₹1,889 crore. Debt-equity ratio came down to 0.58, against 0.61 in the year-ago-period. Net worth of the company stood at ₹53,258 crore.