Indian government-run steel producer Steel Authority of India Limited (SAIL) has reported a consolidated net profit of INR 11.59 billion ($140 million) in the fourth quarter (January-March) of the fiscal year 2022-23, a decline of 50 percent year on year, according to a company regulatory filing on Friday, May 26.
The company reported a total income of INR 294.16 billion ($3.55 billion), a decline of six percent year on year.
In another statement, SAIL said that it achieved crude steel production of 4.95 million mt during the fourth quarter of 2022-23, higher than the 4.60 million mt achieved in the corresponding quarter of the previous fiscal year.
Total sales were, however, lower at 4.68 million mt, compared to 4.71 million mt in the corresponding quarter of the previous fiscal year.