SAIL Q3 net down 43 per cent at Rs632 crore; plans Rs250-crore bond issue
13 Feb 2012
Steel Authority of India Ltd, the country's top steel maker, today reported a net profit of Rs632.12 crore for fiscal third quarter (October-December 2011), down 42.93 per cent from a net profit of Rs1,107.47 crore in the quarter ended 31 December 2010.
The state-run steel maker also announced plans to raise over Rs250-crore through sale non-convertible debentures.
The board of directors of the company at its meeting today, inter alia, approved an interim dividend of Rs1.20 per share of face value Rs10 each for the financial year 2011-12.
SAIL said its total income for the October-December 2011 quarter stood at Rs11,112.49 crore against Rs11,550.76 crore for the same quarter of the previous year.
Net sales were down 5 per cent at Rs10,593.84 crore against Rs11,143.2 crore in the similar quarter of the previous year.
Earnings before interest, depreciation, tax and amortisation (EBIDTA) rose 15.5 per cent 16.1 per cent in the similar quarter of the previous financial year.
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