SAIL reports over Rs 1,226 crore net loss in Q1


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Home metal main SAIL on September 14 posted a consolidated web lack of Rs 1,226.47 crore for the primary quarter ended June 30, primarily on account of diminished earnings. The corporate had posted Rs 102.68 crore web revenue within the year-ago quarter, Metal Authority of India Ltd (SAIL) mentioned in a BSE submitting.

In the course of the quarter beneath overview, the corporate mentioned its web revenue declined to Rs 9,346.21 crore from Rs 14,998.20 crore within the April-June interval of the previous fiscal. Its whole earnings stood at Rs 11,325.10 crore as towards Rs 14,893.07 crore a yr in the past.

The corporate mentioned the pandemic outbreak and measures to comprise it have prompted vital disturbance and slowdown of financial actions. Consequently, the corporate’s manufacturing operations needed to be scaled down through the mentioned quarter.

“Although the operations resumed within the later a part of the quarter with restricted availability of workforce and disrupted provide chain, the restrictions imposed adversely impacted the gross sales quantity and realisation,” SAIL mentioned.

First Printed on Sep 14, 2020 09:44 pm


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