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SAIL’s net surges fourfold on higher income

By CricketHint

State-owned steelmaker SAIL posted consolidated net income of £ 1,468 billion for the quarter ended December, mainly due to higher earnings.

The company had a net loss of £ 343.6 billion in the same quarter a year ago, said the Steel Authority of India Ltd. (SAIL) in a message with.

From October to December total income rose from £ 16,714.9 billion in the same period last year to £ 19,997.3 billion.

The total cost was £ 16,406.8 billion compared to £ 17,312.6 billion a year ago.

Soma Mondal, Chairman of SAIL, said: “SAIL has improved overall in the current financial year despite all the challenges. The company is poised to serve the increasing steel demand in the market once the lockdown begins to gradually open. “

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