 "SAIL")
Helped by strong realisations in the domestic steel market and completion of major capacity expansions, Steel Authority of India (SAIL) posted an improvement in profit for the March quarter (Q4). After returning to profit in October-December 2017 after a gap of about 10 quarters, the net profit in Q4 improved significantly.
Operating profit at Rs 26.24 billion in Q4 was the highest in 27 quarters. SAIL had an operating profit of Rs 14.4 billion in the December quarter and an operating loss of Rs 2.64 billion in the year-ago period, according to a Motilal Oswal Securities report.
With such a turnaround, the
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