Steel Authority net profits up 20 percent

July 21st, 2008 - 6:17 pm ICT by IANS  

New Delhi, July 21 (IANS) India’s largest steel manufacturer, the state-owned Steel Authority of India Ltd (SAIL), has recorded 20 percent increase in net profit in the first quarter of 2008-9, it said Monday. In a regulatory statement, SAIL announced a net profit of Rs.18.35 billion for the quarter ended June 30, compared to Rs.15.25 billion for the correspoding period last year.

Its total income increased 26.9 percent to Rs.114.21 million in the quarter ending June 30, compared to Rs.83.45 billion in the corresponding period last year.

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