New Delhi : Making an impressive turnaround after 3 years of consecutive losses, public sector Steel giant Steel Authority of India Limited (SAIL) has reported a Net Profit of Rs. 2179 Crore during 2018-19 financial year against a net loss of 481.71 Crore in FY 2017-18.
During the financial year 2018-19, intensive efforts on improving physical performance throughout the year in tandem with the market conditions made it possible to achieve higher volumes, improve the product-mix and increase the share ofvalue-added steel.
“The performance during the last year gives us confidence to aim higher and we shall put in even greater efforts to ramp-up production from our sophisticated mills while focussing on augmenting production of special & valued added steels and niche products” Anil Kumar Chaudhary, Chairman, SAIL.
SAIL’s operating margin grew by more than 100% in FY’19 over CPLY indicating an overall improvement in the performance.