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SAIL Q2 net falls 54.6% to Rs 495 cr
State-owned Steel Authority of India (SAIL) has reported a net profit of Rs 495 crore in the second quarter of FY12, a fall of 54.6% as compared to Rs 1,090.1 crore in the corresponding quarter of last fiscal, led by forex loss.
State-owned Steel Authority of India (SAIL) has reported a net profit of Rs 495 crore in the second quarter of FY12, a fall of 54.6% as compared to Rs 1,090.1 crore in the corresponding quarter of last fiscal, led by forex loss.
Net sales increased 3.56% to Rs 10,980 crore from Rs 10,602.9 crore during the same period.
Numbers were less than expectations. CNBC-TV18 poll saw net profit of Rs 870 crore and net sales of Rs 11,450 crore.
It has posted a forex loss of Rs 509 crore in July-September quarter of FY12 as against gain of Rs 152 crore in a year ago period. Royalty on iron ore has hit the July-September profits.
EBITDA margins grew at 10.9% versus 14.1% year-on-year.
