SAIL’s Q1 profit, sales dip
Hit by lower price realisation, Steel Authority of India Ltd (SAIL), the country’s largest steel producer, reported a 27.7 per cent dip in its net profit for the quarter ended June 30. Net profit for the quarter was Rs 1, 326 crore, while net sales declined 16.5 per cent to Rs 8,950.6 crore. Average net realisation on product sales dipped 18 per cent during the quarter.
IBREL net drops 12.5%
Property developer Indiabulls Real Estate (IBREL) posted 12.5 per cent drop in its net profit for the first quarter of FY 2010. IBREL posted a net profit of Rs 5.95 crore for the Q1 of FY 2010, compared with Rs 6.80 crore the company posted last year. Its total income went up 4 per cent at Rs 34.78 crore the company posted in the Q1 of FY 2009 as compared to Rs 33.46 crore in the corresponding quarter last year. BS Reporter
