THE JHARKHAND STORY DESK
New Delhi, Oct 30: State-owned Steel Authority of India (SAIL) has reported a sharp decline of over 53% in its consolidated net profit for the September quarter (Q2 FY26), which fell to Rs 418.72 crore, compared to Rs 897.15 crore in the same period last year.
While the company’s profitability took a hit, its total income for the quarter showed a positive trend, rising to Rs 26,910.04 crore from Rs 24,842.18 crore in the corresponding quarter of the previous fiscal year. This marks a growth of 8.3% in total income, driven by strong operational performance, despite a challenging global steel market.
Performance Highlights
- Net Profit: Rs 418.72 crore in Q2 FY26, down by more than 53% from Rs 897.15 crore in Q2 FY25.
- Total Income: Rs 26,910.04 crore, a rise of 8.3% from Rs 24,842.18 crore in the same period last year.
- H1 FY26 Performance: The company reported a net profit of Rs 1,163 crore for the first half of FY26, an increase from Rs 978.93 crore in H1 FY25.
- Debt: The company’s debt stood at Rs 26,427 crore, marking a reduction from previous periods.
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Steel Production and Sales
In the face of global steel market volatility, SAIL has managed to maintain high capacity utilization, which contributed to steady production. Despite the profit decline in Q2, the company reported an increase in sales volumes, reflecting strong domestic demand and improved operational efficiencies.
Chairman’s Statement
Commenting on the results, SAIL Chairman Amarendu Prakash said, “The H1 FY26 performance reflects SAIL’s consistency across operational and financial metrics. We have achieved significant growth in sales volume despite global market challenges, and our efforts to manage costs effectively have contributed to maintaining a solid production performance.”
He also highlighted that the company’s debt reduction to Rs 26,427 crore was an important achievement, contributing positively to SAIL’s financial health.
Outlook
SAIL’s performance in H1 FY26 demonstrates its resilience amidst global market uncertainties. Going forward, the company aims to capitalize on domestic demand and continued improvements in operational efficiency while navigating external challenges in the global steel market.
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About Steel Authority of India Limited (SAIL)
SAIL, a state-owned company under the Ministry of Steel, is one of India’s largest steel producers. It plays a significant role in meeting the nation’s steel demand and contributing to its infrastructure development. With a strong presence in both domestic and international markets, SAIL continues to focus on improving its production capacity, technological advancements, and sustainability initiatives to maintain its leadership position in the steel industry.
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