State-owned Steel Authority of India Ltd (SAIL) on Thursday reported an 84.4 percent year-on-year (YoY) fall in net profit at Rs 212.5 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, SAIL posted a net profit of Rs 805 crore, the company said in a regulatory filing. CNBC-TV18 Polls had predicted a profit of Rs 30 crore for the quarter under review.
In the quarter, total revenue stood at Rs 24,359.1 crore, up 1.4 percent against Rs 24,028 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 23,784 crore for the quarter under review.
At the operating level, EBITDA declined 28.4 percent to Rs 1,648 crore in the first quarter of this fiscal over Rs 2,301 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 6.8 percent in the reporting quarter as compared to 9.6 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The results came after the close of the market hours. Shares of Steel Authority of India Ltd ended at Rs 92.93, down by Rs 0.050, or 0.054 percent on the BSE.
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