SAIL net profit rises 10% to `533 crore
Revenue increased 8% to `12,716 crore
Mumbai: Steel Authority of India Ltd (SAIL) said on Friday third-quarter profit rose 10% to ₹ 533 crore from a year ago, boosted by growth in volumes.
Revenue increased 8% to ₹ 12,716 crore, the company said in a statement. A Bloomberg survey of analysts showed SAIL’s net profit was projected at ₹ 510.2 crore on a revenue of ₹ 11,689.6 crore.
The company said its saleable production of steel rose 4% to 3.17 million tonnes (mt) in the December quarter.
State-owned SAIL is India’s second largest steel maker after Tata Steel Ltd with an annual capacity of 16.62mt of steel.
Shares of SAIL gained 1.74% to close at ₹ 61.45 on BSE on Friday, while the exchange’s benchmark Sensex advanced 0.86% to end at 20,366.82 points.
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