Indian steel producer Steel Authority of India Limited (SAIL) has reported a net profit of INR 2.12 billion ($25.69 million) in the first quarter (April-June) of the fiscal year 2023-24, a decline of 81 percent year on year, according to a company regulatory filing on Friday, August 11.
The company achieved total sales revenue of INR 243.59 billion ($2.94 billion) in the given period, marginally up 1.4 percent year on year, while total expenses increased by 5.6 percent leading to a sharp fall in net profit.
