Steel Authority of India Ltd has reported a net profit of Rs 816 crore in the last quarter of financial year 2017-2018. A company statement said that this profit is despite a provision of Rs 582 crore towards enhanced gratuity recently approved by the Government of India.
SAIL had reported net loss in the same quarter of the financial year 2016-2017.
All the five integrated steel plants of the company have also recorded individual profits in the fourth quarter of the financial year 2017-2018.
Total sales volume in the fourth quarter of financial year 2017-2018 was 3.738 million tonnes, up 8.4 per cent, over the corresponding period last year.
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