The public sector Steel Authority of India Limited (SAIL) has registered a 17.85 per cent increase in net profit at Rs 1,700.24 crore for the second quarter ended September 30, 2007, mainly on higher price realisation. The company had a profit of Rs 1,442.81 crore in the corresponding quarter a year ago. | |
| The shares of the country's largest state-owned steelmaker declined sightly from a record. |
| |
| SAIL's revenues totalled Rs 10,371.63 crore in the quarter, up 8.2 per cent from Rs 9,585.93 crore in the previous corresponding period. |
| |
| "About 40 per cent of the profit increase came from higher price realisation, while the rest came from higher production of value-added products, reduction in coke prices and better financial management," said SAIL Chairman S K Roongta. |
| |
| SAIL shares declined 5.6 per cent (or Rs 15.50) to close at Rs 261.05 on the BSE on Tuesday. |
| |
