Indian state-run steel producer Steel Authority of India Limited (SAIL) has reported a net profit of INR 8.04 billion ($101 million) for the first quarter (April-June) of the fiscal year 2022-23, a decline of 79 percent year on year, a company statement said on Thursday, August 11.
The company’s total income was reported at INR 169.29 billion ($2.13 billion), up 17 percent year on year, the company statement said.
SAIL’s crude steel output during first quarter amounted to 4.33 million mt, against 3.77 million mt in the corresponding quarter of the previous fiscal year, while sales fell to 3.15 million mt, against 3.333 million in the same quarter of the previous fiscal year.