Shares of Steel Authority of India Ltd (SAIL) jumped over 2% in morning trade on February 11, following its Q3FY25 results. As of 9:28 AM, the shares were trading 2.47% higher at Rs 102.49.
The state-owned steel giant reported a net profit of ₹141.9 crore, down from ₹422.9 crore in the same quarter last year. However, revenue from operations increased by 4.9% to ₹24,489.9 crore, compared to ₹23,348.6 crore in Q3 FY24. EBITDA fell 5.3% YoY to ₹2,029.6 crore, with the EBITDA margin shrinking to 8.3% from 9.2% last year.
Amarendu Prakash, SAIL Chairman, commented, “In the face of a challenging steel market characterized by declining prices and an influx of cheap imports, SAIL has managed to achieve better EBITDA during the Q3FY25 compared to the corresponding period last year. We remain steadfast in our commitment to boost production and enhance cost efficiency, while simultaneously further explore and adopt greener technologies. We expect that with appropriate interventions, the issue of cheap imports will be addressed and the government’s drive on infrastructure development will bode well for the domestic steel industry while driving the demand further.”
SAIL shares opened at ₹100.10 today, reaching a high of ₹103.70 and a low of ₹100.10. The stock remains close to its 52-week low of ₹99.50, significantly below its 52-week high of ₹175.35.
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