Steet Authority of India Limited (SAIL) has reported record third quarter (ended December 2003) performance in terms of revenues, profitability and production. SAIL has reported net profit of Rs 737.95 crore during the quarter against a net loss of Rs 78.75 crore in the corresponding quarter of last year. Total revenues for the quarter stood at Rs 5,911.74 crore against Rs 4,471.76 crore last year. For the nine month period ended December 2003, net profit stood Rs 1,497.8 crore against a loss of Rs 545.96 crore during the same period last year. Revenues during the nine-month period at Rs 15,306.66 crore improved from Rs 11,918.76 crore reported during the corresponding period last year. Commenting on the performance, Sail chairman V. S. Jain said, “The market is expected to be buoyant and we will be able to repeat the performance. We are happy that the performance of the company is in tune with our plans. The next phase will see Sail set on fast-track growth, preparing for a hike in hot metal production by one million tonnes a year.”
