Steel Authority of India, SAIL has announced its third quarter results of FY10. The company's Q3 net profit was up 98.68% at Rs 1,675.5 crore versus Rs 843.3 crore, on year-on-year basis (YoY).
Net sales rose 12.35% to Rs 9,878.7 crore versus Rs 8,792.7 crore. The bottomline was slightly above the estimates while revenues in line with estimates; earlier CNBC-TV18 poll saw the net profit at Rs 1,520 crore and net sales at Rs 9,971.8 crore.
Operating profit margin improved to 26.1% as against 12.8%.
Employee cost declined to Rs 1,571 crore from Rs 1,746 crore. Raw material cost was also down to Rs 3,823 crore versus Rs 5,880 crore.
While talking on results in a press conference, the company said third quarter coking coal cost was lower while iron ore royalty, ferro alloys cost went up on YoY.
The company also says, value added steel output rose 25% and capex at Rs 2,793 crore, up 114% (YoY).
SAIL is also likely to raise Rs 4,500-5,000 crore via 5% equity sale.
Source: CNBC-TV18Courtesy moneycontrol.com
Also check
Posts
No comments:
Post a Comment