After a day of decline at the bourse, the Steel Authority of India Ltd or SAIL, a public-owned metal company, saw its shares soar.
For context, after Donald Trump announced tariffs on aluminium and steel entering the US, the stocks of major steel companies, including SAIL slumped.
SAIL Q3 Results
The story was a little different on Wednesday, as the company shares zoomed. This interestingly comes after the company’s Q3 results. In these results, the company’s profits number slumped by a colossal 62 per cent.
The PSU opened at Rs 100.10 per share. This was only marginally higher than the previous day’s closing. After surging a little, the equity price dropped to a low of Rs 99.15. | Image by sawaeng wonglakorn from Pixabay
Dip In Profits, Rise In Revenue
As per the exchange filing (standalone results), the company reported profits of Rs 126 crore in the quarter that closed on December 31, 2024. This is far behind the Rs 331 crore profits numbers attained by the government-owned metal company in the same quarter of the last fiscal cycle.
In addition, the company’s revenue went up by 4.9 per cent, rising to Rs 24,489 crore versus Rs 23,345 crore.
Meanwhile, EBITDA is down 5.42 per cent at Rs 2,024 crore versus Rs 2,140 crore.
SAIL Shares On Wednesday
When we take a closer look at the company’s performance at Dalal Street, after closing with a major decline of 4.7 per cent yesterday, the company shares jumped optimistically on Wednesday.
The PSU opened at Rs 100.10 per share. This was only marginally higher than the previous day’s closing. After surging a little, the equity price dropped to a low of Rs 99.15. Thereafter, it picked up some momentum, to increase in value.
At the time of writing, the value of the company shares rose by a significant margin, taking the overall increase to Rs 3.07 or 3.07 per cent.
This pushed the overall value beyond Rs 100. At the time of writing, the company shares rose to Rs 103.09 per piece.
SAIL’s 52-week high stands at Rs 175.35 per share, while the company’s 52-week low stands at Rs 99.15 per share.
