The Indian state-run steelmaker Steel Authority of India Limited (SAIL) has reported a net profit of Rupees 14.87 billion ($312 million) in the fourth quarter of the fiscal year 2008-2009, down by 37 percent compared to Rupees 23.77 billion in the corresponding quarter of the fiscal year 2007-08.
For the fiscal year 2008-2009, the company posted a net profit of Rupees 61.75 billion ($1.297 billion), down by 18 percent compared to the net profit of Rupees 75.38 billion on a total income of Rupees 415.187 during 2007-08.
Meanwhile, another Indian steelmaker Jindal Steel and Power Ltd (JSPL) has reported a 140 percent increase in its net profit to Rupees 30.07 billion ($631 million) in the last fiscal year, compared to Rupees 12.49 billion in the fiscal year 2007-08.
The company's sales in the fiscal year 2008-09 jumped by 98 percent to Rupees 108.4 billion ($2.276 billion) compared to the previous year.
$1 = Rupees 47.63