Shares of steel maker SAIL today zoomed over 9 per cent after the company reported a standalone net profit of Rs 43.16 crore for the three months to December 31, 2017. The stock jumped 9.12 per cent to settle at Rs 93.95 on BSE.
Intra-day, it advanced by 9.63 per cent to Rs 94.40. On NSE, shares of the company soared 9.24 per cent to close at Rs 93.95. The company's market valuation rose by Rs 3,239.22 crore to Rs 38,802.22 crore. In terms of equity volume, 45.21 lakh shares of the company were traded on BSE and over 4 crore shares changed hands on NSE during the day. After 10 straight quarters of losses, country's largest steel maker SAIL yesterday reported a standalone net profit of Rs 43.16 crore for the three months to December 31, 2O17. This figure is after taking into consideration other comprehensive income, Steel Authority of India Ltd (SAIL) said in a BSE filing. However, the company had posted a standalone net loss of Rs 794.84 crore in the corresponding quarter of the previous fiscal. The standalone revenue from operations during the quarter increased to Rs 15,443.13 crore, over Rs 12,688.47 crore in the year-ago period.