Sail net vaults to Rs 2512 cr in FY04

Wiping out all the accumulated losses, the Steel Authority of India Ltd on Friday reported the highest ever net profit of Rs 2,512 crore (Rs 25.12 billion) for the financial year 2003-04.

The net profit of Rs 2,512 crore was against the loss of Rs 304 crore (Rs 3.04 billion) in the previous fiscal.

Sail's turnover vaulted to Rs 24,178 crore (Rs 241.78 billion) in FY04, recording a growth of 26 per cent.

Following the company's spectacular performance, its bottomline improved by Rs 2,800 crore (Rs 28 billion) in 2003-04.