Metal big SAIL on Friday posted a 31 per cent leap in its consolidated internet revenue at Rs 3,469.88 crore for the quarter ended March 31, 2021, primarily on account of upper revenue.
The corporate had clocked Rs 2,647.52 crore internet revenue through the January-March interval of fiscal 12 months 2019-20, Metal Authority of India Ltd (SAIL) mentioned in a regulatory submitting.
Through the quarter underneath overview, the corporate’s complete revenue rose to Rs 23,533.19 crore, from Rs 16,574.71 crore within the year-ago interval. Complete bills have been at Rs 18,829.26 crore, as towards Rs 11,682.12 crore a 12 months in the past.
On a standalone foundation, SAIL’s internet revenue grew to Rs 3,443.80 crore, from Rs 2,725.16 crore in the identical interval of 2019-20.
In January-March 2021, complete revenue of the corporate rose to Rs 23,606.06 crore, from Rs 16,628.80 crore within the year-ago interval.
Its bills have been at Rs 18,831.16 crore, as in comparison with Rs 11,675.87 crore in January-March 2020.
“The COVID-19 pandemic outbreak and measures to curtail it had prompted important disturbances and slowdown of financial actions, because of which the corporate’s operations needed to be scaled down throughout; the primary quarter of economic 12 months ended March 31, 2021,” the submitting mentioned.
The submitting additional famous that following the gradual normalization of financial actions, the corporate is working at regular capability.
“In view of the constructive financial surroundings seen throughout sectors, the administration is of the idea that the pattern is more likely to proceed in subsequent durations in addition to the impression of COVID-19. if any, will not be more likely to be materials,” it famous.
The Board of Administrators has additionally declared a remaining dividend of 1.80 per fairness share of Rs 10 every, SAIL mentioned.
In a separate media assertion, SAIL mentioned it produced 4.56 million tonne (MT) through the quarter, up 6 per cent over the year-ago interval, whereas gross sales jumped 11 per cent to 4.42 MT.
Within the assertion, SAIL Chairman Soma Mondal mentioned, “the manufacturing efficiency and monetary efficiency of SAIL improved hand-in-hand through the 12 months. The second half (of the 2020-21 fiscal) noticed buoyancy in metal demand on the again of recovering financial actions.”
Mondal additional famous that “with the federal government additionally placing thrust on infrastructure spending, we targeted on scaling up market pushed merchandise together with enchancment in operational effectivity, which helped the corporate ship a noteworthy efficiency.
(Solely the headline and movie of this report might have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)