Steel Authority of India limited (SAIl) is improving its production capacity to match the demand of the steel which is likely to rise with new policies of the Government and its thrust on steel intensive sectors. “Our initiatives taken to bring down energy consumption and optimise raw material utilisation, as well as adoption of state-of-the-art technologies have helped us improve the techno-economic parameters and stay viable in the current market scenario, said CS Verma chairman, SAIl.
For the October-December 2014 quarter, SAIl registered profit after tax (PAT) of Rs579 crore which is 9 per cent higher than the corresponding period last year, officials informed.
SAIl board approved interim dividend for its shareholders at 17.5 per cent of the company’s paid-up capital, which will involve a pay-out of Rs870 crore including tax on dividends. The net worth of the company increased to Rs43,333 crore as on December 31, 2014, an increase of Rs667 crore from March 31, 2014. The unaudited financial results of SAIl for the quarter Oct-Dec 2014 was taken on record by its Board of Directors.
Improvement in profit was mainly due to enhanced production, better techno-economic parameters along with reduction in input cost particularly imported coking coal. During the quarter, SAIl achieved a turnover of Rs12,291 crore, which is 3 per cent lower than CPlY.