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SAIL - Losses deepen

Jun 12, 2000

The recovery in steel prices during the year seems to have had no effect on the bottomline of Steel Authority Of India Limited.

(Rs m)FY99FY00Change
Sales 154,638 167,229 8.1%
Other Income 1,818 5,069 178.8%
Expenditure141,425 160,282 13.3%
Operating Profit (EBDIT) 13,214 6,947 -47.4%
Operating Profit Margin (%)8.5%4.2%
Interest 20,174 17,888 -11.3%
Depreciation 11,041 11,328 2.6%
Profit before Tax (16,183) (17,200)
Other Adjustments 447 -
Tax - -
Profit after Tax/(Loss) (15,737) (17,200)
Net profit margin (%)-10.2%-10.3%
Earnings per share - -

The company has posted a loss in the current year, mainly due to the sharp decline in operating margins. The decline in interest rates and the marginal increase in depreciation however limited the rise in losses.

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