Mumbai, Jan 27 (IANS) State-run Steel Authority of India (SAIL) Wednesday reported a 98.6 percent rise in net profits at Rs.1,675.55 crore for the quarter ended Dec 31, compared to Rs.843.34 crore in the year-ago period.
Total income of the steel major also grew at 12.3 percent to Rs.9,878.68 crore during the quarter under review, against Rs.8,792.72 crore in the third quarter of last fiscal, the company said in a regulatory filing.

However, the figures were not comparable as another state-owned firm Bharat Refractories Ltd. (BRL) was merged with SAIL.

The last fiscal’s figures did not reflect the addition of BRL, while the current numbers did, according to a company statement.

SAIL is currently in the process of increasing its hot metal production capacity from the level of 13.82 million tonne per annum to 23.46 million tonne per annum which is expected to be completed by the financial 2012-13.