SAIL Q1 net profit rises 18 per cent to Rs 530 crore

Steel Authority of India Ltd (SAIL) on Monday reported an 18 per cent increase in net profit for the April-June quarter at Rs 530 crore on higher sales and realisation.

The state-run steel maker had clocked Rs 451 crore net profit in the same quarter in the year-ago period, it said in a statement. The turnover of the company rose to Rs 12,515 crore, registering a growth of 10 per cent as compared to year-ago period, it added.

"Net sales realisation of the company rose to Rs 36,858 per tonne from Rs 35,777 a tonne," said SAIL Chairman C S Verma.

SAIL sold 2.76 million tonnes (MT) of steel during the quarter, against 2.62 MT during the same period last year.