Sail net profit rises 171% in 2004-05

Steel Authority of India Ltd (Sail) has registered a 171 per cent rise in net profit to Rs 6,817 crore for fiscal 2004-05 as against Rs 2,512 crore in 2003-04. The company’s total income increased 32.8 per cent in 2004-05 to Rs 29,401 crore, up from Rs 22,133 crore in 2003-04.

The company has announced a final dividend of 18 per cent for the fiscal 2004-05 which is in addition to the 15 per cent interim dividend declared in January this year. ‘‘The outgo towards payment of dividend will be Rs 743 crore, of which the government would get Rs 638 crore,’’ Sail Chairman V.S. Jain said here on Wednesday.

The company’s net profit for the fourth quarter ended March 2005 too showed a healthy 164 per cent growth to Rs 2,678 crore compared to Rs 1,014.28 crore during the corresponding period of 2003-04.