India's SAIL Q3 net slips 23 pct, misses estimates

MUMBAI Tue Feb 12, 2013 2:26pm IST

Stocks

   

MUMBAI Feb 12 (Reuters) - State-owned Steel Authority of India Ltd reported a 23 percent drop in quarterly profit, weighed by higher input and wage costs and sluggish sales.

SAIL, India's largest domestic steel producer, said December quarter net profit fell to 4.84 billion rupees ($90 million) from 6.3 billion a year earlier. Net sales fell marginally to 104.95 billion rupees.

Analysts on average had forecast a net profit of 5.7 billion rupees, according to Thomson Reuters Starmine data.

At 2.20 p.m. (0850 GMT), SAIL shares were trading 0.5 percent lower in a firm Mumbai market.

($1 = 53.76 rupees) (Reporting by Prashant Mehra; Editing by Anand Basu)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

RBI Policy Review

RBI Policy Review

RBI keeps rates on hold, warns on inflation  Full Article 

Monsoon Season

Monsoon Season

India's 2014 monsoon ends with double-digit rain deficit .  Full Article 

Cleanliness Drive

Cleanliness Drive

Modi orders officials to clean loos on Gandhi's birthday.  Full Article 

Bid to Boost Trading

Bid to Boost Trading

RBI takes small steps to deepen markets.  Full Article 

Car Recall

Car Recall

Maruti Suzuki says to recall 69,555 cars.  Full Article 

China Factory Data

China Factory Data

China final HSBC PMI steady in September on stronger global demand but risks remain  Full Article 

Oil Demand

Oil Demand

India's thirst for oil grows even as China cuts back  Video 

EBay Divests PayPal

EBay Divests PayPal

EBay to spinoff PayPal in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage