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Business News/ Companies / Company-results/  SAIL net profit rises 10% to `533 crore
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SAIL net profit rises 10% to `533 crore

Revenue increased 8% to `12,716 crore

The company said its saleable production of steel rose 4% to 3.17 million tonnes in the December quarter. Photo: Pradeep Gaur/MintPremium
The company said its saleable production of steel rose 4% to 3.17 million tonnes in the December quarter. Photo: Pradeep Gaur/Mint

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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Published: 14 Feb 2014, 04:42 PM IST
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