STEEL AUTHORITY OF INDIA REGISTERS 58% GROWTH FOR Q-2 EBITA

SAIL registered an EBIDTA of 1498 crore for the July-Sept14 quarter which is 58% higher than the corresponding period last year (CPLY). The profit before tax (PBT) of 751 crore in Q2 FY15 is higher by 124% over CPLY, excluding the exceptional item of 1056 crore from M/s Vale in August, 2013 on account of arbitration award in favour of SAIL. The unaudited financial results of SAIL for the quarter July-Sept 14 was taken on record by its Board of Directors today. During the quarter, SAIL achieved a turnover of 12,934 crore, which is 1% higher than CPLY. The networth of the company increased to 43,622 crore as on 30.9.14, an increase of 956 crore from 31.3.2014. Improvement in performance in EBIDTA was helped by factors such as enhanced production of value added steel, better techno-economic parameters along with improvement in net sales realization and reduction in the input cost.