Steel Authority Q4 net profit down 29.78% at Rs 2418.30 cr
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The company reported standalone net profit of Rs 2,418.30 crore for the quarter ended March 31, 2022 as compared to Rs 3443.80 crore in the same period last year, registering a year-on-year decline of 29.78 per cent. Net revenue of the company rose substantially by 32.09 per cent at Rs 30,758.10 crore in January-March quarter of this fiscal as against Rs 23,286.00 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 54.24 per cent to Rs 26,426.84 crore from Rs 17,133.11 crore in year ago period. Other Income grew by 41.25 per cent at Rs 452.07 crore versus (Mar'21 Rs 320.06 crore). Operating Profit slipped by 29.61 per cent to Rs 4,331.26 crore as against Rs 6,152.89 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 46.71 per cent in March quarter. Interest declined by 18.56 per cent y-o-y to Rs 440.11 crore, while Taxation decreased by 32.03 per cent at Rs 791.66 crore (Mar'21 Rs 1,164.66 crore).
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