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SAIL third-quarter profit surges 14-fold on record production


(Reuters) - Steel Authority of India posted on Thursday a more than 14-fold surge in third-quarter net profit, topping estimates, as the company clocked in record production of saleable steel and crude steel.Net profit came in at 6.16 billion rupees ($86.25 million) for the three months ended Dec. 31, compared with a profit of 431.6 million rupees in the previous year, the country's second-biggest steel company by assets said.This is above analysts' estimate of 5.63 billion rupees as net profit, according to Refinitiv Eikon data.Revenue from operations rose 3.3 percent to 158.36 billion ...

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First Published: Thu, February 07 2019. 20:02 IST