SAIL turns red with Rs 329 cr Q2 loss, expenses surge to Rs 27,200 cr
State-owned Steel Authority of India Limited (SAIL) on Thursday slipped into red posting a consolidated loss of Rs 329 crore during the quarter ended on September 30, 2022.
It had clocked Rs 4,338.75 crore net profit during the July-September period of the preceding fiscal, SAIL said in a BSE filing.
The company has also reported a fall in its total income at Rs 26,642.02 crore from Rs 27,007.02 crore in the same quarter a year ago.
Its expenses increased to Rs 27,200.79 crore as against Rs 21,289 crore in the year-ago period.
SAIL has also reported a fall in its crude steel output as well as sales.
Its crude steel output fell to 4.30 million tonnes (MT) during the quarter under review from 4.47 MT in July-September period of FY22. Sales shrunk to 4.21 MT from 4.28 MT a year ago.
A query seeking chairman's comments on the company's financial and operational performance during the September quarter remained unanswered.
SAIL, under the Ministry of Steel, is the country's largest s