Steel Authority’s net down 56 percent

January 27th, 2009 - 5:17 pm ICT by IANS  

Mumbai, Jan 27 (IANS) State-owned steel manufacturer, Steel Authority of India (SAIL), Tuesday announced its net profits had declined in the third quarter by 56.4 percent to Rs.8.43 billion (Rs.843.34 crore) from Rs.19.35 billion (Rs.1,934.66 crore) in the year-ago period.The company’s net sales were down 7.14 percent to Rs.88.52 billion (Rs.8,852.26 crore) for the period under review, against Rs.95.33 billion (Rs.9,533.3 crore) in the corresponding previous quarter.

Total income decreased 3.77 percent from Rs.98.48 billion (Rs.9,847.6 crore) for the quarter ended Dec 31, to Rs.94.76 billion (Rs.9,475.6 crore) in the corresponding period this fiscal.

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