Steel Authority of India Ltd. (SAIL), one of the country’s largest steelmakers, announced its June quarter (Q1 FY27) results on Friday, post market hours, reporting a 138% year-on-year (YoY) jump in consolidated net profit to ₹1,636 crore from ₹685 crore in the corresponding quarter last year.
The strong improvement in profitability came despite lower production and sales volumes, aided by improved realizations and lower inventory levels.
The company said it deliberately moderated production during the quarter by advancing scheduled repair and maintenance activities, a move necessitated by geopolitical volatility that disrupted global supply chains.
According to SAIL, this planned intervention is expected to support higher production stability and improved operational performance in the coming quarters.
On a sequential basis, profit slipped 3% from ₹1,680 crore reported in the March quarter. Crude steel production stood at 4.76 million tonnes during the June quarter, compared with 4.85 million tonnes in the year-ago period and 5.08 million tonnes in the March quarter, reflecting a decline on both a year-on-year and sequential basis.
In terms of operating profitability, the EBITDA came in at ₹4,356 crore, a 49% YoY jump as against ₹2,925 crore in the year-ago quarter, with margins expanding sharply to 16.6% from 11.2% YoY. The revenue stood at ₹26,246 crore, higher than the ₹25,921 crore in Q4FY25. However, both revenue and EBITDA stood lower on a sequential basis.
Commenting on the results of the first quarter of the current financial year. Chairman & Managing Director, SAIL, Dr. Ashok Kumar Panda said, “Amid global uncertainties, the domestic steel industry demonstrated resilience backed by sustained demand in domestic steel consumption.”
“SAIL, through enhanced operational efficiencies, prudent cost management, and focused marketing initiatives, has delivered a significantly profitable first quarter in FY27. The company remains confident of leveraging robust manufacturing capabilities and continues to strengthen performance while capitalizing on the sustained domestic steel demand,” Ashok Kumar further added.
