SAIL Q3 Net Slips 23 Percent, Misses Estimates
February 12, 2013 9:12 PM EST
State-owned Steel Authority of India reported a 23 percent drop in quarterly profit, weighed by higher input and wage costs and sluggish sales.
SAIL, India's largest domestic steel producer, said December quarter net profit fell to 4.84 billion rupees from 6.3 billion a year earlier. Net sales fell marginally to 104.95 billion rupees.
Analysts on average had forecast a net profit of 5.7 billion rupees, according to Thomson Reuters Starmine data.
At 2.20 p.m. (0850 GMT), SAIL shares were trading 0.5 percent lower in a firm Mumbai market.
Most Popular Slideshows
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- 2014 US Open: Hottest Male Tennis Players To Watch [PHOTOS]
Join the Conversation
- 5.5-Inch iPhone 6 is iPhone Air on Sept 19 Release Date: 5 Things to Consider Before Buying
- PlayStation 4 Killing Xbox One Costing Microsoft Millions But It's Fine
- Google Can Kill Samsung with Android KitKat and Android One: Here's How