The steel PSU had posted a standalone loss of Rs 539.06 crore in the July-September period of the previous fiscal.
The standalone income during the second quarter increased by 23.1 percent to Rs 16,832.37 crore, compared to Rs 13,666.05 crore in the year-ago period, according to a regulatory filing by SAIL.
Total expenses increased to Rs 15,950.21 crore during...
the September quarter from Rs 14,108.84 in the corresponding quarter of the previous fiscal.
SAIL Chairman Anil Kumar Chaudhary said, "Raising volumes, targeting to operate at rated capacities and focussing to meet the requirement of the railways in terms of rails and wheels and axles are our foremost priorities, along with upholding safety practices at the core."
"The domestic steel market is offering a positive platform; besides, we must also de-risk our operations from any externalities by being prepared with volumes, value additions and quality products," he said.
SAIL's focus on approaching the market and customers with new products and sales force effectiveness will surely help catering the market requirements more adequately, he added.
Showing overall improvements including operational performance, the EBITDA for the second quarter of FY2018-19 was at Rs 2,473.54 crore, a growth of 156 percent over the same period last year which was Rs 966.56 crore, SAIL said.
The numbers indicate a fast recovery in the company's profitability, operational performance and a collective effort towards driving the full advantage of modernisation and expansion, it added.
Ramping up production from new units, achieving the production and techno-economic targets remain the top priority of the company, it said.
In the second quarter of this fiscal, the company's saleable steel production stood at 3.537 million tonnes.
In the first half of the ongoing fiscal, the company's saleable steel production was at 7.151 MT, registering an increase of 4.2 percent over the corresponding period of the last fiscal.
More than 8 million shares changed hands, compared to the 30-day moving average of about 10 million. The stock is down about 25 per cent this year as of last close.
tate-run gas utility GAIL (India) Ltd posted a 50% jump in second-quarter profit on Monday, boosted by higher revenue from its natural gas marketing business.
Profit came in at Rs 1,963 crore ($268.86 million) for the three months ended on 30 September, compared with Rs 1,310 crore a year earlier, the company said.
Another PSU giant GAIL (India) Ltd.’s profit for the quarter ended September rose, beating estimates, on the back of higher revenue from the natural gas marketing business.
Net profit of the state-run gas utility rose 56 percent sequentially to Rs 1,963 crore in the July-September quarter, according to its exchange filing.
The revenue rose 11.4 percent quarter-on-quarter to Rs 19,275 crore—against Rs 17,827 crore estimated. GAIL’s earnings before interest, tax, depreciation and amortisation rose 29 percent over the previous quarter to Rs 2,928 crore, while the operating margin expanded 160 basis points to 15.2 percent. The natural gas trading business revenue rose 11.5 percent sequentially to Rs 15,651.9 crore.
Other Highlights
Revenue from the petrochemicals business rose 9.8 percent sequentially to Rs 1,772.18 crore.
In the transmission services business, natural gas revenue rose 16.72 percent to Rs 1,530.8 crore, while LPG rose 8 percent to Rs 152.38 crore.
The natural gas marketing business was aided by higher LNG volume and price.
Transmission EBIT margin expanded to 57 percent from 53 percent in the preceding quarter.
Natural gas marketing EBIT margin expanded to 6.7 percent from 3.9 percent.
Petrochemical segment’s EBIT margin contracted to 9.4 percent from 12.9 percent.
LPG segment EBIT margin expanded to 55.7 percent from 49.4 percent.
GAIL’s transmission business was aided by the Petroleum and Natural Gas Regulatory Board’s move to increase pipeline tariffs.
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