Steel Authority of India SAIL, the state-owned steel company has reported a consolidated net profit of Rs 423 crore for the October-December period of FY24, falling 22 percent on a high base as in Q3FY23, there was an exceptional gain of Rs 298 crore. Revenue from operations fell 6.8 percent year-on-year to Rs 23,349 crore for the quarter.
Revenue from operations for the quarter stood at Rs 23,348.64 crore, down six percent from Rs 25,042.10 crore a year ago, SAIL said in an exchange filing on February 12.
SAIL’s revenue from its Bhilai plant stood at about Rs 6,500 crore, down 12.1 percent, while that of Rourkela and Bokaro units came in at Rs 5,863.3 crore and Rs 6,003.6 crore, respectively.
The Centre in January shelved disinvestment of Salem Steel plant, the company’s stainless steel unit, following lack of interest from bidders. In 2022, privatisation of SAIL’s Bhadravathi plant was also scrapped due to inadequate bidder interest.