Steel Authority of India Limited (SAIL), a public sector undertaking under Ministry of Steel has declared the financial results for the second quarter of the current Financial Year 2020-21 (Q2 FY’21) which reflects a strong performance. During Q2 FY’21, the Company has posted Profit Before Tax (PBT) of Rs 610.32 Crore and Profit After Tax (PAT) of Rs 393.32 Crore against loss of Rs 523.03 Crore and Rs 342.84 Crore respectively for PBT and PAT over the Corresponding Period Last Year (CPLY). The profit achieved during the second quarter of FY’21 reflects the resilience and robust performance by the Company in a fast reviving economy and domestic market which has been battling the adverse impact of the Covid 19 Pandemic during the initials month of the year. Signifying the pick-up in performance and activities, SAIL’s turnover in Q2 FY’21 also registered an improvement of more than 20% over CPLY and stood at Rs 16834.1 Crore. The Earning Before Interest,Taxes, Depreciation and Amortization (EBITDA) of Q2 FY’21 registered an astounding growth of 58.7% over CPLY and stood at Rs 2098.09 Crore. The Company, determined to face every odd thrown by the onset of Covid, performed exceptionally well and maintained the sales growth momentum from June’20 onwards. After the first two months of the FY’21, which were impacted by the pandemic, the cumulative performance has been largely made up by consistently better performance since then. SAIL registered an impressive 31.3% growth in sales during Q2 FY’21 over CPLY. With the strategic focus on enhancing the saleable steel production, the Company registered the best ever saleable steel Q2 production of 3.752 MT in Q2 FY’21 surpassing the previous best of 3.658 MT achieved during Q2 FY’18. The saleable steel production in Q2 FY’21 grew by 5% over CPLY. The focus on operational efficiency also resulted in improvement in the key Techo-economic parameters during Q2 FY’21 viz. Coke Rate (4%), Blast Furnace Productivity (9%) and Specific Energy Consumption (1%) over CPLY. Commenting on the performance of the Company in the second quarter of the current Financial Year, Shri Anil Kumar Chaudhary, Chairman, SAIL said, “The year began with unforeseeable challenges, which had engulfed the entire world. It was a time to foster synergy and channelize all our energy and determination to surmount the obstacles and prove our mettle. SAIL Collective did this and the Company registered profit in Q2 FY’21 by braving all odds and exhibiting substantial growth in the operational performance. The Company is determined to perform better in future and is geared up to take all necessary actions to remain a world-class domestic steel producer towards building an Atmanirbhar Bharat”.

“NTPC is shaping up well for the future with its diversification plans and as a responsible corporate, NTPC is committed towards environment and the fast growing capacity addition in the renewable portfolio is testimony to the commitment”, said R.K. Singh, Minister of State (Independent Charge) for Power, New and Renewable Energy and Minister of State for Skill Development and Entrepreneurship, Government of India.Singh was speaking on the occasion of 46th Raising Day of NTPC addressing the senior management of India’s largest power producer along with the employees and their family members through the digital platform.

Congratulating NTPC Ltd, the PSU under Ministry of Power, on its Raising Day, Singh said, “during the pandemic NTPC has ensured uninterrupted power supply to the nation reinforcing the significance of affordable power in our daily lives.” He further added, “NTPC is one of the largest companies in India and now they must strive hard to become one of the largest power producers globally. The company has remained nimble footed that has helped them to evolve stronger over the years.”

Speaking on the occasion, Sanjiv Nandan Sahai, Secretary Power, GoI congratulated NTPC for its glorious 45 years of excellence. Sahay said, “I am glad to see how NTPC is looking to reinvent itself and move forward with its investments in the renewable sphere.” He praised company’s efforts in mitigating pollution caused due stubble burning by co-firing Biomass at its power plants ranging anywhere between 10% to 20%. Shri Sahay also emphasised on Hydrogen being the fuel for future  and commended the way NTPC is gearing up and being ready for future.

On the occasion, Gurdeep Singh, CMD NTPC, said, “We appreciate and acknowledge all those who have contributed to the growth of NTPC since 1975 and congratulate NTPC Family for its success over the years.” He further added “In this financial year, we have added 1784 MW in spite of challenges posed by the pandemic and ensured uninterrupted power supply to the nation. We are planning to achieve the target of 1 lakh MW of capacity by 2025 and are well placed with our diversification plans in distribution and expansion in renewable portfolio.”

The day also marked the announcement of commercial operation second unit of 880 MW unit of the NTPC Lara in Chhattisgarh. The Raising Day celebration began with the flag hoisting ceremony at the Engineering Office Complex (EOC), Noida. The ceremony was attended by NTPC officials from locations across the country via online platforms, amidst the COVID induced uncertainty.

The Swarn Shakti Awards were presented to NTPC plants in the areas of Productivity, Safety, Protection and Improvement of Environment, Rajbhasha, Best Health Facilities, CSR & Community Development and Project Management Awards.

This event is special for all NTPCians as every employee worked round the clock during the lockdown phase earlier this year to protect the nation from lack of electricity. The fact that electricity is crucial was proved once again during the lockdown as it was needed for the smooth operation of emergency services. This resulted in additional demand from NTPC and it showcased its stellar performance and lived up to the responsibility bestowed upon it by supplying electricity 24×7 despite the lockdown. This crisis witnessed the power engineers emerging as new heroes and saving the day by providing light in every nook and corner of the country.