New Delhi: Authorities-owned Metal Authority of India Restricted (SAIL) has recorded its highest-ever income from operations at Rs 105,375 crore in the course of the monetary 12 months 2023-24. The corporate had recorded a income of Rs 104,447 crore in 2022-23, in keeping with an organization assertion.
“Throughout FY 2023-24, the corporate has achieved its best-ever efficiency in manufacturing and gross sales. The crude metal manufacturing and gross sales quantity have registered a progress of 5.2 per cent and 5.1 per cent respectively throughout FY’24 over the earlier 12 months,” in keeping with a SAIL assertion.
Nevertheless, the metal large’s consolidated internet revenue for the January-March quarter declined by 3 per cent to Rs 1,126 crore from Rs 1,159 crore as a result of decrease metal costs in comparison with final 12 months.
SAIL’s board of administrators has beneficial a ultimate dividend of Rs 1 per fairness share i.e. 10 per cent of face worth for the Monetary 12 months 2023-24, topic to the approval of the shareholders on the AGM. The corporate had earlier paid an interim dividend of Rs 1 per fairness share in the course of the 12 months.
Commenting on the outcomes, SAIL chairman Amarendu Prakash stated, “The Indian Metal Markets have remained fairly sturdy showcasing continuous progress in demand. SAIL has been taking varied initiatives in direction of rising volumes, including value-added merchandise to its product basket and enhancing effectivity ranges which is mirrored within the improved bodily efficiency 12 months on 12 months. The corporate will proceed to work on enhancing its efficiency additional to faucet into the buoyancy within the rising Indian Metal Market”.
Final week, the SAIL Chairman stated that the metal main is maintaining an in depth watch on Chinese language imports after the USA raised tariffs on items from China. There are fears that China could begin dumping its extra manufacturing in different international locations at low cost costs.
