SAIL reports 29% fall in Q1 net profit

Steel Authority of India (SAIL) has reported unaudited results for the first quarter ended June 30, 2011.

The company’s net profit for the quarter ended June 30, 2011 has declined 28.78% at Rs 838.06 crore as compared to Rs 1176.65 crore for the corresponding quarter last year. Its total income rose 19.64% at Rs 11389.04 crore for the quarter under review from Rs 9519.52 crore for the same quarter last 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.