SAIL Q1 net down 35.25% at R451 cr

The country’s biggest steel maker SAIL’s net profit has dipped 35.25 per cent

Written by ENS Economic Bureau | New Delhi | Published:August 15, 2013 2:30 am

The country’s biggest steel maker SAIL’s net profit has dipped 35.25 per cent to Rs 450.91 crore during the first quarter of the current financial year owing to a decline in net sales realisation and rising manpower costs. The state-run company had posted a net profit of Rs 696.41 crore in the same quarter of the last fiscal.

The company,however,on Wednesday,said its margins would improve in the near future as there was no scope for any further decline in the prices. The firm’s chairman CS Verma said while average net sales realisation was down to Rs 35,077 per tonne,from Rs 39,369 in the year-ago period,prices have recently improved in the global markets.

Video of the day

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results