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17th June 2016, 02:00 PM
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Join Date: Mar 2013
Re: Steel Authority of India News

India's biggest household steel creator SAIL today reported a standalone net loss of Rs 1,230.93 crore for the quarter finished March 30, 2016 hit by testing economic situations and decrease is deals acknowledgment.

The Maharatna firm had timed a net benefit of Rs 334.22 crore in the year-back period.

Absolute standalone pay of the firm declined by 2 for each penny to Rs 11,371.66 crore in the January-March quarter of last financial against Rs 11,590.55 crore amid the same quarter of 2014-15, SAIL in an administrative documenting.

All out costs of people in general area undertaking were higher at Rs 13,273.65 crore when contrasted with Rs 11,183.66 crore amid the quarter under audit. The misfortune after expense for the quarter was because of "lessening in net deals acknowledgment to the degree of 19 percent", SAIL said in an announcement.

"The testing conditions confronted by local industry got some reprieve after presentation of the helpful arrangement measures by Government as Safeguard obligation and MIP," SAIL Chairman said.

SAIL saw better figures in last quarter of 2015-16 and is focusing to finish the equalization modernisation and extension with an emphasis on vitality sparing techniques, improving its item blend and presenting client driven procedures, he included.

In October-December quarter of 2015-16, lower deals by virtue of "enormous surge in imports of low-valued steel" from nations including China saw the steel goliath's log a gigantic Rs 1,528.7 crore remain solitary net misfortune against a benefit of Rs 579.1 crore in the same quarter last financial.

SAIL said it saw an inside and out change in execution in the March quarter timing record offers of 3.79 million tons (MT), which is the most elevated ever in a quarter by the organization and higher by 20 for every penny over relating period.

Administration activities towards cost lessening and enhanced stock administration likewise added to the change in money related parameters. Use per ton of saleable steel descended by around 10 for every penny amid January-March when contrasted with the December quarter by virtue of diminishment in expense of creation, higher volumes and other administration activities, the firm said.


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