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Profit of Sail: State-owned company SAIL has announced its September quarter results. The company’s net profit for the second quarter of the current financial year was Rs. 1,305 crore, while in the same quarter a year ago it was Rs. 329.36 crores was lost. Meanwhile, the company’s stock on Friday rose over 1.50% to Rs. was 88.60. On September 4, the share was Rs. It reached the level of 103.59. The stock also has a 52-week high.
Earnings and Expenses: Steel Authority of India Limited (SAIL) said in a filing to the stock market that the company’s total revenue rose to Rs 29,858.19 crore from Rs 26,642.02 crore year-on-year. At the same time, an expenditure of Rs. 27,768.52 crore, compared to Rs. 27,200.79 crores.
Crude steel production increased: SAIL’s crude steel production in the September quarter stood at 48 lakh tonnes in July-September, as against 43 lakh tonnes in the same period last year. Year-on-year sales increased from 42.1 lakh tonnes to 47.7 lakh tonnes. SAIL, under the Ministry of Steel, is one of the largest steel manufacturing companies in the country with an annual installed capacity of over 20 million tonnes.