SAIL soars in the wind

SAIL posted excellent earnings for Q3FY21 with consolidated net profit coming in at Rs.1468 crore v/s loss of Rs.344 crore (YoY). This turnaround in bottomline was on account of a 20% rise in total income at Rs.19,997 crore. A 5% drop in total expenses also helped the surge in profit.

Its total sales, including exports rose 1% at 4.15 million tons. Hot metal production rose 12%, crude steel output was up 9% and saleable steel production rose 6%.

The company declared an interim dividend of Re1/share.

SAIL, under the Ministry of Steel, is the country's largest steel maker having an installed capacity of about 21 million tonne per annum (MTPA).

The stock is doing very well, rising almost 4% to Rs.59.75 and is now trading at around the same levels.