Indian government-run steel producer Steel Authority of India Limited (SAIL) has reported a consolidated net profit of INR 8.9 billion ($106.67 million) for the second quarter (July-September) of the fiscal year 2024-25, a decline of 31 percent year on year, according to a company statement on Friday, November 8.
The company reported a total income of INR 248.4 billion ($2.95 billion) for the period, a decline of 17 percent year on year.
SAIL chairman Amarendu Prakash said, “We expect the second half of the current fiscal of 2024-25 to bring more promising results compared to the previous half, which was impacted by various challenges. Moving forward, with an expected downtrend in steel imports and projected growth in GDP and capital expenditure, H2 FY25 may yield a better performance”.