SAIL Registers Rs 215-cr Cash Profit In Q3

New Delhi, January 28: | Updated: Jan 29 2003, 05:30am hrs
Steel Authority of India (SAIL) reported a cash profit of Rs 215 crore for the third quarter ended December 31, 2002 as against a loss of Rs 297 crore in the same period previous year.

Riding high on upsurge in steel demand, Sails losses were slashed at Rs 79 crore in the third quarter, an improvement of Rs 507 crore over corresponding period last year. It witnessed a jump of 28 per cent in turnover at Rs 4,908 crore in the third quarter.

The company showed a recovery of 57 per cent with its nine months losses (April-December) being brought down to Rs 558 crore.

Sail registered a growth of 21 per cent in turnover at Rs 13,097 crore in the first nine months of current fiscal.