SAIL Q2 net up 12% at Rs 543.11 cr

Helped by forex gains, state-owned steelmaker SAIL today reported nearly 12 per cent growth in net profit at Rs 543.11 crore for the quarter ended September 30, 2012.

The largest domestic steel producer had reported net profit of Rs 485.28 crore in the same quarter last fiscal.

SAIL made forex gains of Rs 41.84 crore in the July- September quarter due to volatility in dollar-rupee exchange rates, compared to forex loss of Rs 508.71 crore in the same quarter last fiscal.

Net sales of Steel Authority of India Ltd (SAIL) were, however, marginally down by 1.60 per cent to Rs 10,663.20 crore during the quarter vis-a-vis Rs 10,836.67 crore of the July-September quarter of FY'12, it said in a filing to the BSE.

Besides, its expenses also increased marginally to Rs 10,113.53 crore during the Q2, while it reported nearly 11 per cent decline in the tax outgo to Rs 244.76 crore.

However, its other income (mainly interest earned on cash deposits) fell by 54 per cent to Rs 225.49 crore in the July-September period.

SAIL scrip was trading at Rs 82.65 on the BSE at 1415 hrs, down 0.84 per cent from the previous close.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture