The saleable steel
production of Steel Authority of
India Limited (
SAIL) rose 8 percent year on year to 8.5 million metric tons in the first nine months of the current fiscal year.
Despite the
production figure,
SAIL's net profit fell to Rupees 29.4 billion (around $657 million) due to the lower steel prices and input costs.
SAIL aims to invest Rupees 35 billion (around $783 million) by 2011 in an effort to produce 22 million metric tons annually.