Friday, June 24, 2022

SAIL achieves best ever profitability in FY’22; declares dividend of Rs 2.25

SAIL registered 29 percent decline in consolidated net profit of Rs 2,479 crore in the fourth quarter (Q4) ending March 31

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New Delhi: Maharatna Steel PSU, Steel Authority of India (SAIL) declared its financial performance for the fourth quarter (Q4) and year ending March 31, 2022 (FY’22) on Monday. According to the SAIL, it has clocked its best-ever performance in production and sales while achieving an all-time high revenue from operation of Rs 1,03,473 crore and EBITDA of Rs 22,364 crore. This performance, backed by an uptick in steel demand and a positive business outlook, is an outcome of collaborative and concerted efforts for enhancing production and improving techno-economic parameters while seizing possible opportunities in the marketplace.

Other hand SAIL registered 29 percent decline in consolidated net profit of Rs 2,479 crore in the fourth quarter (Q4) ending March 31. It had reported a consolidated net profit of Rs 3,470 crore in the year-ago period (Q4 FY’21).

Sharing of profit with shareholders, the company recommended Rs 2.25 as the final dividend for FY’22. SAIL declared the highest ever dividend in FY’22 i.e. Rs 8.75 per share including the already paid two interim dividends for FY’22.

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