New Delhi, Nov 8 : Public sector steel giant SAIL on Thursday reported a standalone net profit of Rs 834 crore for the July-Sept quarter of the current financial year which represents a 32.7 per cent decline over the corresponding figure of Rs 1,241 crore during the same quarter of 2023-24.

The company’s revenue was adversely impacted by the flood of cheap Chinese imports which led to a decline in steel prices.

SAIL revenue came down by 17 per cent to Rs 24,675 crore during the second quarter compared to Rs 29,714 crore in the same quarter of the previous year.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) declined to Rs 3,174 crore during the second quarter from Rs 4,043 crore in the same period last year.

According to a SAIL statement, the company’s performance in the second quarter of the current financial year has shown improvement compared to the previous quarter. Revenue from operations, EBITDA, and sales volume all increased in Q2 FY’25 over Q1 FY’25.

However, lower performance in Q2 FY’25 compared to the same period last year (Q2 FY’24) was influenced by factors like cheaper imports which led to a decline in prices.