Indian state-owned steel producer Steel Authority of India Limited (SAIL) has announced its financial results for the first half ended September 30 of the financial year 2016-17.
Accordingly, in the first half, SAIL recorded a net loss of INR 12.67 billion ($187.49 million) compared to a net loss of INR 13.56 billion recorded in the same period of the previous financial year. The company's net sales revenue amounted to INR 201.62 billion ($2.98 billion), up nine percent year on year.
In the first half of the given financial year, SAIL’s saleable steel production increased by 20 percent year on year to 6.9 million mt. In the same period, the company’s saleable steel sales totaled 6.4 million mt, rising 18 percent compared to the first half of the previous year.