PSU NEWS
SAIL posts Q4 net loss of Rs 1230.93 cr
NEW DELHI . SAIL has reported a standalone net loss of Rs 1,230.93 crore for the quarter ended March 30, 2016 hit by challenging market conditions and decline is sales realisation.
The loss after tax for the quarter was due to “reduction in net sales realisation to the extent of 19 per cent”, SAIL said in a statement.
The firm had clocked a net profit of Rs 334.22 crore in the year-ago period.
Total standalone income of the firm declined by 2 per cent to Rs 11,371.66 crore in the January-March quarter of last fiscal against Rs 11,590.55 crore during the same quarter of 2014-15, SAIL in a regulatory filing.
Total expenses of Comapny were higher at Rs 13,273.65 crore as compared to Rs 11,183.66 crore during the quarter under review.
The loss after tax for the quarter was due to “reduction in net sales realisation to the extent of 19 per cent”, SAIL said in a statement.
The challenging conditions faced by domestic industry received some respite after introduction of the conducive policy measures by Government in the form of Safeguard duty and MIP,” SAIL Chairman P K Singh said
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