Steel Authority of India (NSE: SAIL) Ltd. : Q3 FY23 Results Out; Total Income fell -1% YoY

Steel Authority of India Limited(NSE: SAIL) is a government-owned steel manufacturing company based in India. It is one of the largest steel producers in the country and is headquartered in New Delhi. SAIL operates five integrated steel plants and three special steel plants, as well as a network of mines, quarries, and raw material deposits. The company produces a wide range of steel products, including plates, sheets, bars, rods, and tubes, which are used in various industries, including construction, infrastructure, and transportation. SAIL also exports its products to several countries around the world.

In December 2022, Sail India Ltd reported a total revenue from operations of ₹25042.10 crore, which is an increase of 2.44% compared to September 2022 (₹26246.34 crore) and an increase of 0.61% compared to December 2021 (₹25246.99 crore). In terms of expenses, the company reported total expenses of ₹24825.11 crore in December 2022, which is a decrease of 8.69% compared to September 2022 (₹27200.79 crore) and an increase of 6.45% compared to December 2021 (₹23209.88 crore).

As a result of the increase in revenue and decrease in expenses, the company reported a profit before exceptional items, share of net profit of investment accounted for using equity method, and tax of ₹427.50 crore in December 2022, which is a significant improvement compared to the loss of ₹442.61 crore in September 2022. After considering exceptional items, the company reported a net profit of ₹725.91 crore for December 2022, which is an increase of 118.76% compared to the loss of ₹329.36 crore in September 2022.

Sail India Ltd reported improved financial performance in December 2022 compared to September 2022, due to an increase in revenue and a decrease in expenses, and exceptional items had a positive impact on the company’s net profit.