SAIL Q4 Results: Firm reports over 50% fall in net profit

SAIL, the state-owned steel company, has reported a 50% decline in its consolidated net profit to INR 1,159.21 crore for the quarter ending 31st March. The company believes that this has been caused by lower income, although it highlighted that crude steel production increased by 7.6% YoY to 4.95 MT. However, its sales were down at 4.68 MT in comparison to last year’s 4.71 MT. It has also announced a final dividend of Re 0.50 per share for FY23 and warned of high coal prices and volatile steel prices that impacted its margins.