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