(THE NEWSMAN OF INDIA.COM)
New Delhi, 29th January, 2021: Steel Authority of India Limited (SAIL), the Maharatna steelmaker, has declared its financial performance results for the third quarter of current financial year (Q3 FY21) and nine months (9M FY21), both ending 31st December, 2020.

Key highlights of Q3 FY21
§ Hot metal production at 4.8 MT, growth of 12% over CPLY.
§ Crude steel production at 4.37 MT, growth of 9% over CPLY.
§ Saleable steel production at 4.15 MT, growth of 6% over CPLY.
§ Total sales (domestic + exports) of 4.15 MT, growth of around 1% over CPLY.
MT is Million Tonnes.

There has been a countrywide turnaround in the overall economic activities after the short pause set in during the pandemic. In sectors like infrastructure, construction, manufacturing and automobiles, there has been a relatively rapid recovery. As these sectors are major steel consumers, the recovery in them have helped the up-rise in demand in domestic steel sector. The concerted thrust of the government to strengthen the infrastructure of the country has helped the domestic steel sector witness healthy demand generation.

Smt. Soma Mondal, Chairman, SAIL, commented, “The worst is behind us. SAIL has shown overall improvement during the current financial year despite all the challenges. With the focus on seizing opportunities, the company has geared up to service the rising steel demand in the market as soon as the gradual opening of lockdown started. It has always been SAIL’s strategy to operate in sync with the market situation. As we look ahead, we are confident of improving the performance further in the remaining period of the financial year.”