Public Sector Undertaking Steel Authority of India Ltd (SAIL) has recorded a net profit of Rs 816 crore in the last quarter of financial year 2017-18.
This comes after making a provision of Rs.582 Crore towards enhanced gratuity recently approved by Government of India.
All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18.
SAIL’s performance on the production front recorded highest ever quarterly crude steel production of around 4.0 MT in Q4 FY18 with a growth of 6% over CPLY.
“The effect of synergised team work across SAIL, integration of every process and continual focus to service the customers with world class products is finally beginning to show. SAIL, which has almost finished its modernisation and expansion, is ready with an array of value added products which are tailored for today’s requirements. The domestic market is showing very good growth signs, which is backed up strongly by the Government’s initiative to enhance domestic steel consumption. The ongoing and upcoming large infrastructure projects offer large scope for steel consumption,” said P K Singh, Chairman, SAIL.