The Hindu : Other States / Orissa News : SAIL makes Rs. 1,835-cr. profit

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Thursday, Jul 24, 2008
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SAIL makes Rs. 1,835-cr. profit

Rourkela: Higher sales volume, increase in special (value added) steel production, better operational efficiencies and higher interest earnings enabled the Steel Authority of India Limited (SAIL) to achieve a profit (after tax) of Rs.1,835 crores during April-June, 2008, showing 20.3 per cent growth over the corresponding period last year.

The financial performance has improved despite a burden of Rs.1,434 crores on account of substantially higher cost of inputs like coal, freight, ferro-alloys, fuel and higher wage revision, a RSP release said here on Wednesday.

The company has registered sales turnover of Rs.12,183 crores with growth of 37 per cent during the period, it said.

Thrust area

With thrust maintained on production of value added and special steels, the SAIL plants produced about one million tonnes of items during first quarter, showing a growth of 41 per cent over last year’s same period.

During the first quarter, a number of capital projects were completed at Rourkela Steel Plant (RSP), Durgapur Steel Plant (DSP) and Bhilai Steel Plant (BSP). Construction works for expansion at IISCO plant, and Salem Steel Plant have commenced and were progressing as per schedule.

With utilisation of finishing mills at all time high in the quarter, finished steel production comprised 88 per cent of production as compared to 84 per cent during last period.

Further improvement in operational efficiency also helped the company. With 121 per cent of rated capacity utilisation of continuous casting shops, production through this energy-efficient route crossed two million tonnes.

- PTI

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