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Steel Authority of India Ltd (SAIL) posted a 236 per cent growth in net profit during the March quarter on a sequential basis to ₹3,470 crore.
On a year-on-year basis, the March quarter profit rose 31 per cent from net profit of ₹ 2,648 crore recorded in same quarter last year. For the financial year 2020-21, net profit grew 96 per cent to ₹4,148 crore. Annual revenue grew 12 per cent to ₹69,974 crore.
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The company’s board also recommended a final dividend of ₹1.8 per equity share for 2020-21. It had earlier declared an interim dividend of ₹1 per equity share.
SAIL recorded its best quarterly performance in both production and sales during the March quarter, producing 4.55 million tonnes of crude steel. For the quarter under review, SAIL recorded sales of 4.42 million tonnes. The company also clocked its best ever annual sales in 2020-21 at 14.87 million tonnes.
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