SAIL net down 18.1 percent

May 28th, 2009 - 4:25 pm ICT by IANS  

Mumbai, May 28 (IANS) State-run Steel Authority of India Ltd (SAIL) Thursday reported an 18.1 percent drop in its net profit for 2008-09 at Rs.6,174.9 crore, down from Rs.7,536.7 crore recorded the year before.
The turnover during the period slipped 9.9 percent to Rs.41,518.7 crore from Rs.46,110.7 crore in 2007-08.

The steel major’s fourth quarter net profit fell 37.4 percent to Rs.14,86.6 crore despite the turnover increasing 10.1 percent during the period.

The company board of directors has recommended a dividend of Rs.1.30 per equity share of Rs.10 each in addition to Rs.1.30 paid as interim dividend earlier.

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