SAIL share price target, SAIL Q4 results: Steel Authority of India Ltd (SAIL) share will remain in focus on Tuesday, May 21, a day after the PSU released a strong set of March quarter earnings report along with a final dividend announcement.
SAIL Q4 results latest news
On Monday, SAIL reported a marginal 2 per cent fall in consolidated net profit to Rs 1,126.68 crore during the March quarter, due to higher raw material prices.
It had posted a Rs 1,159.21-crore net profit in the year-ago period, the company said in an exchange filing. The company’s revenue from operations also fell to Rs 27,958.52 crore from Rs 29,130.66 crore in the March quarter of FY23.
The decline in profit and revenues was attributed to the high cost of raw materials in the fourth quarter of FY24 at Rs 15,130 crore, higher than Rs 14,828.04 crore a year ago. Its total expenses were lower at Rs 26,473.86 crore compared to Rs 28,088.17 crore in the same period a year ago.
SAIL dividend 2024
SAIL has also approved a final dividend of Re 1 for FY24.
Management Outlook
SAIL Chairman Amarendu Prakash said, “The domestic markets have remained quite robust showcasing continual growth in demand. We have been taking various initiatives towards increasing volumes, adding value-added products to our product basket, and improving efficiency levels, which is reflected in the improved physical performance year-on-year.” SAIL, under the Ministry of Steel, is the country’s largest steel-producing entity.
(With PTI Inputs)
(This story will be updated shortly.)
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