SAIL Q3 net drops 55%

Steel Authority of India (SAIL) today reported a 54.79% decline in net profit at Rs 684.59 crore in the third quarter ended December 31, 2005 when compared with Rs 1,514.24 crore in Q3FY05.

According to a release issued by the company to the BSE today, total income declined to Rs 6,443.39 crore in Q3FY06 from Rs 7,889.20 crore in Q3FY05.

The board approved an interim dividend @ 12.5%, the release added.