SAIL’s second-quarter statistics show a roughly 10-fold increase in net profit year-over-year to $4,304 crore, as well as a four-fold increase in dividends

Steel Authority of India Limited (SAIL) announced a nearly 10-fold increase in its standalone net profit for the quarter ended September 30, 2021, to Rs 4,304 crore, owing to a low-base effect. In the previous fiscal year, the steel company made a net profit of Rs 393 crore.

In the current quarter (Q2FY22), the company’s net profit increased by 12% from the previous quarter (Q1FY22) to 3,850 crores.

SAIL’s revenue from operations grew 58.5 percent to 26,827 crores in the year-ago quarter, compared to 16,924 crores the year before. According to a regulatory filing, gross borrowings were 22,478 crores as of 30.09.202I, down from 35,350 crores as of 31.012021, a fall of $12,872 crore during H1FY22.

SAIL’s board of directors also declared a 4 per equity share interim dividend for FY22.

“The Board of Directors also declared an interim dividend of Rs. 4 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs. 10 per equity share of Rs The record date for the payment of the Interim Dividend is November 10th, 2021,” it stated.

On Friday, SAIL shares on the BSE closed 0.087 percent down at 115 per share.