SAIL Q2 net profit jumps over 10-folds to Rs 4,338 crore; declares Rs 4 interim dividend.
Domestic steel giant SAIL reported on Friday that consolidated net income for the second quarter, which ended in September 2021, increased more than 10-fold to Rs 433.875 billion.
As per submission to regulatory agencies, during the period July-September the company announced that its consolidated gross revenue also increased from Rs. 1,709,757 million in the corresponding quarter of the previous fiscal year to Rs. 27,007,020 million.
Spending of SAIL for the quarter was Rs 2,128.9 billion, compared with Rs 16,733.63 billion a year ago.
On a stand-alone basis, the company’s quarterly net income was Rs 4,303.62 billion.
Net income for the same quarter last year was Rs 393,320 million.
His total income increased from 17,121.22 rupees in the same period last year to 27,057.53 rupees.
Spending in the quarter was Rs 21,304.64, compared with Rs 16,733.29 in the year-ago quarter.
In another statement, SAIL announced that it produced 4.468 million tonnes (MT) of crude steel and sold 4.280 MT of steel during the quarter.
“The total borrowing amount on September 30, 2021 was 22,478 billion rupees, compared to 35,350 billion rupees on March 31, 2021, a decrease of 12,872.0 billion rupees in the first half of 2010 (202122). “It did,” the company said.
The company’s board of directors said it approved an interim dividend of Rs 4 per share this year.