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SAIL posts Rs.529 crore profit

Posted on Aug 11 2014 | IANS

Mumbai, Aug 11 : Steel major Steel Authority of India Ltd (SAIL) Monday said it had closed the first quarter of the current fiscal on standalone basis with a net profit of Rs.529.88 crore up from Rs.450.91 crore posted during previous year's first quarter.

In a filing with the Bombay Stock Exchange (BSE), the company said it earned a total income of around Rs.11,536.98 crore for the first quarter this fiscal as compared to around Rs.10,494 crore earned during the comparable period of the previous year.

According to the company, its steel plants in Bhilai, Durgapur and the IISCO steel plant earned lower revenue as compared to the corresponding period of the previous fiscal.

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