State-owned Maharatna company, SAIl recorded a net profit of Rs334 crore for the period ending March 31, 2015 while its net profit for FY15 stood at Rs2,093 crore, despite ‘challenging’ market conditions. The profits were achieved mainly due to improved production, better techno-economic parameters and strategic policy initiatives, a statement issued by the company said.
In FY15, SAIl achieved the highest ever concast production at 10.34 million tonnes with a growth of 6 per cent over the previous best of 9.8 million tonnes achieved last year.
The company's gross turnover for FY15 was Rs50,627 crore while the net worth of the company as March 31, 2015 was Rs43,505 crore as against Rs42,666 crore of the corresponding period.
SAIl achieved a higher EBIDTA of 15 per cent in FY15 year-on-year excluding the exceptional item from M/s Vale during the previous financial year on account of arbitration award in favor SAIl.
Commenting on the results, SAIl Chairman CS Verma said, “if you look at results SAIl's performance in the fourth quarter has been market leading. The profits declined due to a gain of Rs1,056 crore in 2013-14 fiscal that the firm got by winning a commercial dispute.”