Steel Authority of India Limited (SAIL), an Indian state-owned steel company, reported that its consolidated net profit was Rs 1,159.21 crore in the fourth quarter of the fiscal year 2033-23 (January to March), falling by 50% compared to the corresponding period a year ago. Therefore, the total income was dragged down by 6% year on year to Rs 29,416.39 crore.

During the same period, SAIL’s crude steel production amounted to 4.95 million tons, rising from 4.6 million tons in the same quarter a year ago. The sales slid to 4.68 million tons, compared to 4.71 million tons a year earlier.