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State-owned Steel Authority of India Ltd (SAIL) on Monday reported a 22% fall in its consolidated net profit to ₹422.92 crore for the quarter ended in December 2023 due to lower income. The steel maker had posted a net profit of ₹542.18 crore during the October-December period of 2022-23.
The company's total income fell to ₹23,492.33 crore in the third quarter of FY24 from ₹25,140.16 crore a year ago, according to an exchange filing by the company.
Expenses stood at ₹23,140.81 in the reporting quarter as against ₹24,825.11 crore in the third quarter of last fiscal.
Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is the country's largest steel manufacturing entity having a total installed capacity of around 21 million tonnes.
The Board of Directors has also declared an interim dividend of ₹1 per equity share for FY24 and set February 20 as the record date for the purpose of payment of the interim dividend.
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