Steel giant SAIL on Monday reported a 64.5 percent year-on-year (YoY) decline in net profit at Rs 542.2 crore for the third quarter that ended December 31, 2022, on higher expenses

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In the corresponding quarter last year, the company posted a net profit of Rs 1,529 crore. CNBC-TV18 Polls had predicted a profit of Rs 414 crore for the quarter under review.

In the December quarter, total revenue stood at Rs 25,042.1 crore during the period under review, up 0.8 percent against Rs 25,246.9 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 25,909 crore for the quarter under review.

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At the operating level, EBITDA jumped 38.9 percent to Rs 2,078.6 crore in the third quarter of this fiscal over Rs 3,402 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 8.3 percent in the reporting quarter as compared to 13.5 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

While sales volume increased to 4.15 million tonne during Q3 of the current fiscal compared to 3.84 million tonne a year earlier. CNBC-TV18 Polls had predicted a sales volume of 4.2 million tonne for the quarter under review.

(Edited by : Pradeep John)

First Published:Feb 13, 2023 9:05 PM IST