The agreement covers SAIL’s Indikatta Ramnagore Coal Block and BCCL’s East of Damagoria (Kalyaneshwari) Coal Block. The MoU marks a step towards developing domestic sources of coking coal, according to SAIL’s regulatory filing.
First Quarter Results
Steel Authority of India Ltd posted a two-fold jump in consolidated net profit to Rs 1,644.05 crore in the June quarter, mainly on account of reduced expenses. It had reported a net profit of Rs 744.58 crore in the year-ago quarter, the company said in an exchange filing.
ALSO READ | SAIL Q4 profit jumps 47% amid record production & sales, beats estimates; declares dividend
SAIL increased its total income to ₹26,451.21 crore from ₹26,083.90 crore in Q1FY26. Expenses stood at ₹24,146.32 crore, down from ₹25,189.19 crore in April-June of the preceding fiscal.
In a separate statement, SAIL said its crude steel output reduced to 4.76 million tonnes (MT), from 4.85 MT in Q1 FY26. The sales also fell to 4.16 MT from 4.55 MT in the year-ago period.
SAIL Chairman Ashok Kumar Panda said amid global uncertainties, the domestic steel industry demonstrated resilience backed by sustained demand in domestic steel consumption.
ALSO READ | SAIL shares get a downgrade from Nuvama with a 25% price target cut on expensive valuations
He said, “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 capitalising on the sustained domestic steel demand.” SAIL, under the Ministry of Steel, is India’s largest public sector steel-making entity, having an annual capacity of over 20 MT.
Shares of Bharat Coking Coal Ltd ended at ₹32.07, down ₹0.05, or 0.16%, on the BSE, while shares of Steel Authority of India Ltd ended at ₹184.80, up ₹0.80, or 0.43%.
ALSO READ | SAIL Q3 net profit zooms nearly 3x on higher volumes, beats forecast