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Steel producer SAIL shares climb 5% after quarterly earnings

Shares of SAIL on Friday rose by 5 per cent after the company posted a 31 per cent jump in its consolidated net profit for the quarter ended March 31, 2021.

Topics
Steel producers | Steel growth | Indian markets

Press Trust of India  |  New Delhi 

SAIL,
Image: ANI twitter

Shares of SAIL on Friday rose by 5 per cent after the company posted a 31 per cent jump in its consolidated net profit for the quarter ended March 31, 2021.

It gained 5.06 per cent to close at Rs 135.05 on the BSE. The stock during the day went higher by 5.56 per cent to Rs 135.70.

On the NSE, it closed with a gain of 4.90 per cent at Rs 134.85.

In traded volume terms, 92.22 lakh shares were traded at the BSE and over 18.27 crore units at the NSE during the day.

Steel giant SAIL on Friday posted a 31 per cent jump in its consolidated net profit at Rs 3,469.88 crore for the quarter ended March 31, 2021, mainly on account of higher income.

The company had clocked Rs 2,647.52 crore net profit during the January-March period of fiscal year 2019-20, Steel Authority of India Ltd (SAIL) said in a regulatory filing.

During the quarter under review, the company's total income rose to Rs 23,533.19 crore, from Rs 16,574.71 crore in the year-ago period. Total expenses were at Rs 18,829.26 crore, as against Rs 11,682.12 crore a year ago.

On a standalone basis, SAIL's net profit grew to Rs 3,443.80 crore, from Rs 2,725.16 crore in the same period of 2019-20.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Fri, June 11 2021. 19:23 IST
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