On standalone, the net loss of Steel Authority India (SAIL) reported Rs 385.82 crore in the second quarter of FY23 as compared to a net profit of Rs 4,303.62 crore in the second quarter of  FY22.

In the second quarter of FY23, the company’s pre-tax loss was at Rs 515.59 crore compared to a pre-tax profit of Rs 5,752.89 crore reported in the second quarter of FY22. Crude Steel Production went down 3.8 per cent to 4.30 million tonnes in the second quarter of  FY23 from 4.47 million tonnes in the second quarter of  FY22.

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During the quarter, sales were 4.21 million tonnes, which fell by 1.64 per cent compared with 4.28 million tonnes recorded in Q2FY22.

EBITDA was steeply lower at Rs 1,174 crore in the second quarter of  FY23 as against Rs 7,248 crore recorded in the second quarter of  FY22.

SAIL reported a net loss of Rs 329.36 crore in the second quarter of  FY23 compared with a net profit of Rs 4,338.75 crore in the second quarter of  FY22. Revenue from operations declined 2.2 per cent YoY to Rs 26,246.34 crore in Q2FY23.

Steel Authority of India Ltd (SAIL) is India’s leading steel manufacturing company. The company is a fully integrated iron and steel maker, producing basic and special steel sheets for domestic construction, power, engineering, automotive and defence industries and selling in export markets. On the Bombay Stock Exchange (BSE), the stock rose 2.02 per cent to recent trade at Rs 85.85.