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
- NFL MNF: Washington Redskins 20, Dallas Cowboys 17 (OT) [PHOTOS]
- Emma Watson Gets 'Squished' In 'Colonia Dignidad' [PHOTOS]
- 2014 MLB World Series Game 6: Kansas City Royals 10, San Francisco Giants 0 [PHOTOS]
- San Francisco Giants Beat Kansas City Royals, 3-2 In Game 7, Wins 2014 MLB World Series [PHOTOS]
Join the Conversation
- Marvel Announces Release Dates Of 11 Upcoming Movies From 2015 To 2019
- Xiaomi Becomes World’s Third Largest Smartphone Manufacturer By Dethroning Huawei
- Entry Of Peshmerga Fighters From Iraq Boosts The Kobani Battle Against ISIS: Turkey Provides Transit
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Nexus 6, 9 Buyers on November Release Will Enjoy These 3 Killer Lollipop 5.0 Features First
- Australia Special Forces Await 'Delayed' Iraqi Visas Before Joining ISIS Fight
- Woman Hanged In Iran Talks Abuse In Prison, Left Chilling Message To Family