New Delhi, June 14 -- The March quarter results of Steel Authority of India Ltd (SAIL) have quite a few bright spots. For one, its Ebitda per tonne surged a massive 3.2 times year-on-year to Rs14,145 helped by better realisations as well as volumes. Last quarter's realisation and sales volume had risen 24% and 16%, respectively, on a year-on-year basis.

Ebitda is earnings before interest, tax, depreciation and amortisation, a key measure of profitability for companies.

Note that the company had reported an operating loss for the June 2020 quarter. Since then, it has improved its quarterly Ebitda continuously during the financial year 2021. Even so, while SAIL's Ebitda increased 21% sequentially, the measure is 5% lower year-on-year.