Wednesday, 31 May 2017

SAIL Q4 loss reduces to Rs 771.3 cr

State-run steel manufacturer SAIL reported a net loss of Rs 771.3 crore for the fourth quarter ended March, which was lower than the loss incurred in the same quarter of 2016, on the back of higher revenues during the last quarter. The company suffered a net loss of Rs 1,184.64 crore in the corresponding quarter a year ago. For the entire fiscal 2016-17, SAIL has narrowed down its losses by 30 per cent and recorded an overall improvement, including in production, sales and productivity, the company said in a stock exchange filing on Tuesday. During the quarter in consideration, the company's total income increased to Rs 14,543.5 crore, as compared to Rs 12,946.5 crore in the same period a year ago.

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