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SAIL to boost iron ore and coking coal purchase in 2013

22 Nov 2011 Evaluate

Steel Authority of India (SAIL), India's largest domestic steel producer is likely to increase its iron ore purchase by 68% to 39 million tonne in 2013 from 23.25 million tonne in 2010, to fulfill its expansion requirement. It will also boost coking coal purchases to 21 million tonne in 2013 from 13.8 million tonne in 2010.

The company’s net profit for the second quarter of the current fiscal has tumbled 54.62% at Rs 494.64 crore as compared to Rs 1090.01 crore for the corresponding quarter of the last year. The company’s total income increased marginally by 3.12% at Rs 11469.88 crore for the quarter under review as compared to Rs 11122.82 crore for the second quarter of the previous year.

SAIL is India’s largest state-owned iron ore producer established in 1954. It is one the leading steel-making company in India. It has country’s second largest mines network. All plants of SAIL are ISO certified.

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