SAIL's Q4 net profit declines 26 percent

India's largest steelmaker, Steel Authority of India (SAIL) posted a 26 percent fall in its net profit at Rs.334 crore during the fourth quarter of 2014-15 against Rs 453 crore in the corresponding timeframe in 2013-14.

The company said its total income during the review period declined by 13 percent to Rs.11,684 crore from Rs.13,684 crore in the year-ago period.

The state-owned firm produced 3.72 million tonne (mt) of crude steel during the period which was 10 percent higher compared to 3.38 mt during the corresponding period last year.

Production of hot metal grew by 16 percent at 4.22 mt against 3.63 mt and the saleable steel output rose by 6 per cent to 3.44 mt from 3.42 mt during the quarter.

For the fiscal, the company's net profit fell by 20 percent to Rs.2,093 crore from Rs.2,616 crore in 2013-14. Its total income for the year declined marginally to Rs.46,695 crore, from Rs. 47,513 crore.

Crude steel production during the fiscal year in consideration grew by 2 percent to 13.91 mt during 2014-15 fiscal from 13.58 mt in 2013-14. Production of hot metal also saw a rise by 7 per cent at 15.41 mt from 14.45 mt. However, saleable steel output was almost flat at 12.84 mt from 12.88 mt during the same period.