February 8, 2018 / 12:50 PM / 2 months ago

Steel Authority of India swings to profit in Dec quarter

(Reuters) - Steel Authority of India Ltd posted a profit for the three months ended December on Thursday, snapping ten straight quarters of losses.

FILE PHOTO: A motorcyclist rides past an advertisement of Steel Authority of India Ltd. (SAIL) at a street in New Delhi, India, August 5, 2016. REUTERS/Adnan Abidi/File Photo

Net Profit was 431.6 million rupees ($6.72 million), compared with a loss of 7.95 billion rupees in the year-ago period, the company said in a statement. bit.ly/2sjyd54

Quarterly revenue from operations rose 21.4 percent to 153.24 billion rupees.

($1 = 64.2550 Indian rupees)

Reporting by Vishal Sridhar in Bengaluru

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