SAIL Q1 net profit falls 79% to ₹804 crore due to higher expenses

The Steel Authority of India Limited (SAIL) on Wednesday reported a 79% fall in its consolidated net profit to ₹804.50 crore in the quarter ended June as against ₹3,897.36 crore in the corresponding period last fiscal. Higher expenses by the company led to the decline as it increased to ₹23,295.23 crore as against ₹15,604.07 crore a year ago.