SAIL Q4 net rises 3 per cent to Rs1,577 crore; annual turnover crosses Rs50,000-cr mark
29 May 2012
Steel Authority of India Limited (SAIL), the country's largest steel producer, has reported a 3 per cent increase in its after-tax profit for fiscal fourth quarter (January-March 2012) of Rs1,577 crore on gross sales turnover of Rs14,785 crore, which again showed a 12.6 per cent year-on-year growth from Rs13,135 in the year-ago quarter.
SAIL's profitability during Q4 also showed substantial improvement over the previous quarter (October-December 2011).
SAIL's Q4 profit before tax (PBT) stood at Rs2,301 crore, up 3.4 per cent from the comparable quarter of last financial year.
For the financial year 2011-12, SAIL's profit before tax and after-tax profit fell 28 per cent year-on-year to Rs5,151 crore and Rs3,543 crore, respectively.
Total revenue of SAIL for the financial year 2011-12 rose 7 per cent to Rs50,348 crore from Rs47,041 crore in the previous financial year.
SAIL blames the decline in topline growth on massive cost push due to a variety of factors.