Cheaper imports and weak demand resulting in a sharp fall in steel prices in the domestic market has led Steel Authority of India Ltd to a net loss of ₹1,528 crore for the third quarter of fiscal 2015-16. In fact, except Bhilai unit, all of SAIL’s steel plants were making a loss before interest, exceptional items and tax. Even at Bhilai, the profit before interest, exceptional items and tax shrank to ₹ 19.87 crore during the quarter as compared to ₹ 634 crore in the same quarter last year.
India’s steel major Steel Authority of India (SAIL), a public sector enterprise has reported a net loss in all the three quarters of financial year 2015-16. SAIL registered an increase in total sales by 16% and 12.5% for the April - Dec 2016 (9 months) period and Q3 of financial year 2017 with 9.66 million tonnes (MT) and 3.27 MT of saleable steel respectively over corresponding period last year (CPLY). SAIL also registered highest ever 9M saleable steel production at 10.2 MT witnessing a growth of 16.5% and 9.2% growth in Q3 of financial year 2017 over CPLY.