SAIL wipes out accumulated losses

By siliconindia staff writer   |   Friday, 28 May 2004, 07:00 Hrs
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NEW DELHI: Wiping out all accumulated losses, Steel Authority of India Ltd on Friday reported highest ever net profit of Rs 2512 crore for the financial year 2003-04.

The net profit of Rs 2512 crore was against the loss of Rs 304 crore in the previous fiscal.

SAIL's turnover vaulted to Rs 24,178 crore in the fiscal under review, recording a growth of 26 per cent.

Following the company's spectacular performance, its bottomline improved by Rs 2800 crore in 2003-04.

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