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News Topical, Digital Desk : Steel Authority of India has presented its March quarter results. The company's performance in the quarter has been much better than expected. Profit, income, EBITDA and margins were all much above the estimates received in CNBC TV18's poll. According to the results released, profit has increased by 11 percent compared to last year. At the same time, income has increased by about 5 percent on a year-on-year basis. EBITDA has remained flat, while margins have fallen slightly.
The company has announced a dividend of Rs 1.6 per share to its investors along with the results. In Wednesday's trading, the Steel Authority's stock closed with a slight increase at 128.8. The company gave its results after the close of trading on Wednesday.
How were the quarterly results? According to the information given by the company, the profit in the March quarter has increased by 11 percent to Rs 1251 crore, which was Rs 1126 crore a year ago. The market had estimated a profit of Rs 724 crore. The company's income has increased by 4.9 percent on a year-on-year basis and has increased from Rs 27958 crore to Rs 29316 crore. The market had estimated an income of Rs 27980 crore. EBITDA has remained flat at Rs 3483 crore. The estimate was Rs 2718 crore. Margins have remained at 11.88 percent, which was 12.46 percent a year ago. The market had estimated 9.71 percent. That is, there has been a decline in margins, although the market was anticipating a sharper decline.
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