SAIL net loss narrows to Rs 795 crore in December quarter
NEW DELHI: SAIL narrowed its net loss on a year-on-year (YoY) basis to Rs 795 crore on Thursday, which was lower than a loss of Rs 880 crore anticipated by analysts in an ET Now survey.
The public sector firm, which is also India’s largest integrated iron and steel producer, had reported a net loss of Rs 1481 crore in the year-ago period and 731.58 crore in the previous quarter.
SAIL shares closed 1.6 per cent lower at Rs 65.70 on Thursday on NSE. They hit a low of Rs 65.25 and a high of Rs 67.60 during the day.
Total income from operations rose 25.2 per cent on a YoY basis to Rs 12,619 crore from Rs 10,072.79 crore reported for the corresponding quarter of last financial year.
Earlier in the day, SAIL informed BSE that the Ministry of Steel has appointed Saraswati Prasad, Additional Secretary & Financial Adviser (AS&FA), Ministry of Steel, as government director on the board of directors of the company in place of Bharathi S Sihag, former special secretary & financial adviser, Ministry of Steel.
The public sector firm, which is also India’s largest integrated iron and steel producer, had reported a net loss of Rs 1481 crore in the year-ago period and 731.58 crore in the previous quarter.
SAIL shares closed 1.6 per cent lower at Rs 65.70 on Thursday on NSE. They hit a low of Rs 65.25 and a high of Rs 67.60 during the day.
Total income from operations rose 25.2 per cent on a YoY basis to Rs 12,619 crore from Rs 10,072.79 crore reported for the corresponding quarter of last financial year.
Earlier in the day, SAIL informed BSE that the Ministry of Steel has appointed Saraswati Prasad, Additional Secretary & Financial Adviser (AS&FA), Ministry of Steel, as government director on the board of directors of the company in place of Bharathi S Sihag, former special secretary & financial adviser, Ministry of Steel.
