State-run Steel Authority of India (SAIL) has recorded best-ever production of saleable steel for May at 1.087 million tonnes (MT), up by 11% over the corresponding month previous year. The production of value added and special steel too surged around 8% during the month against the corresponding month of the last year.
Meanwhile, the production of crude steel at 1.152 MT for the month was also the highest as against the previous best of 1.135 MT logged in May. The production of the company is likely to further improve in the coming months as its ongoing Rs 61,870 crore expansion is getting progressively commissioned.
The company reported a decline of 71.68% in its net profit at Rs 446.53 crore in Q4FY13 as compared to net profit of Rs 1576.98 crore in the same quarter previous year. Total income from operation of the company decreased by 9.90% to Rs 12330.42 crore as compared to Rs 13685.29 crore in corresponding quarter last year.
