Sail swings to profit in December quarter
Sail’s net profit was Rs43.16 crore in the third quarter compared with a loss of Rs795 crores in the year-ago period
Bengaluru: Steel Authority of India Ltd (Sail) posted a profit for the three months ended December on Thursday, snapping ten straight quarters of losses.
Net profit was Rs43.16 crores ($6.72 million), compared with a loss of Rs795 crores in the year-ago period, the company said in a statement.
Quarterly revenue from operations rose 21.4%to Rs15,324 crore.
On Thursday, Sail shares closed 3.99% up at Rs86.10 apiece on the BSE. Reuters.