The countrys biggest steel maker SAILs 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 firms 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.
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