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SAIL Q1 net profit rises 18pc to Rs. 530 crore

Steel Authority of India (SAIL) on Monday reported 18 per cent increase in net profit for the April-June quarter at Rs. 530 crore on higher sales and realisation.

The state-run steel maker had clocked Rs. 451 crore net profit in the same quarter in the year-ago period, it said in a statement.

The turnover of the company rose to Rs. 12,515 crore, registering a growth of 10 per cent as compared to year-ago period, it added.

“Net sales realisation of the company rose to Rs. 36,858 per tonne from Rs. 35,777 a tonne,” SAIL Chairman C S Verma said.

SAIL sold 2.76 million tonnes (MT) of steel during the quarter, against 2.62 MT during the same period last year.

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