Reduction in Profit of SAIL

Press Information Bureau

Government of India

Ministry of Steel

29-November-2012 16:09 IST

The Minister of Steel, Shri Beni Prasad Verma has said that Profit After Tax (PAT) of Steel Authority of India Limited (SAIL) during April to September, 2012 at Rs. 1240 crore has been lower by 7.04% over corresponding period last year (April-September 2011) mainly due to adverse impact of input prices, particularly imported coal, salary & wages, higher interest & depreciation, reduction in interest earnings and increase in royalty on minerals, etc. In a written reply in the Rajya Sabha today Shri Verma said, SAIL has undertaken Modernization/Expansion of its Steel Plants/Units at an estimated cost of about Rs.72,000 crore.  The benefits from Modernization/Expansion would start accruing after their completion/ commissioning only.

The plant-wise details of total number of regular employees (executive and non-executive) and contract labours working in SAIL are as under: 

***

NSK/DB