SAIL Q4 net profit falls 42% to Rs 468 crore due to higher expenses

A man paddles his rickshaw pasts an advertisement of Steel Authority of India Ltd. (SAIL) at a street in New Delhi, India. Photo: Reuters

The country's largest steel maker SAIL on Thursday said its standalone net profit fell by 42.57 per cent to Rs 468.40 crore for the fourth quarter ended March 31, due to higher expenses.

The company had posted a standalone net profit of Rs 815.57 crore in the corresponding quarter previous fiscal, SAIL said in a regulatory filing.

In the March quarter, the standalone total income increased to Rs 18,752.36 crore from Rs 17,264.86 crore in the year-ago period.

The company's expenses were at 17,985.46 crore, higher from Rs 16,455.94 crore in the corresponding period of the preceding fiscal.

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