SAIL Q3 net up 124%, beats forecast

SAIL Q3 net up 124%, beats forecast
PTI
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First Published: Mon, Jan 29 2007. 04 47 PM IST
MUMBAI: Top steel maker Steel Authority of India Ltd said on 29 January 2007 quarterly profit more than doubled, beating expectations, on higher sales and better prices.
The state-run company said net profit rose to Rs 14.71 billion ($332 million) for the fiscal third quarter ended December 31, from Rs 6.56 billion a year earlier. Sales rose 29 percent to Rs 96.57 billion.
A Reuters survey of seven brokerages had forecast net profit of Rs 14.41 billion on sales of 86.34 billion.
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First Published: Mon, Jan 29 2007. 04 47 PM IST