Indian state-run steelmaker Steel Authority of India Limited (SAIL) has posted a net profit of INR 43.38 billion ($579 million) for the second quarter (July-September) of the fiscal year 2021-22, a rise of 894 percent over the corresponding period of the previous fiscal year, according to a regulatory filing by the company on Tuesday, November 2.
The steel producer reported sales revenues of INR 268.28 billion ($3.38 billion) for the given period, up 58.51 percent year on year.
SAIL in a statement said that it produced 4.47 million mt of finished steel during the quarter and sold 4.28 million mt.