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

RELATED ARTICLES

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E-mail ID will not be published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

  • Media obsession with his layoff smacks of lack of focus

    Pretty much like his abrupt vanishing act had done 50-odd days ago, Congress vice president Rahul Gandhi’s return on Thursday from a long and myster

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Riskfactor</b>: Oblivious to reality

The hostile media effect, originally deemed the hostile media phenomenon, ...

Zehra Naqvi

Sensual wordplay

The student of literature looks for form and structure. The ...

Bubbles Sabharwal

The bitter cold heart of life

Life has a heart just as we do. Most times ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture