SAIL to face a huge loss

Published by Metro India News Online on May 31, 2016 14:12:13 PM

Steel Authority of India (SAIL) has reported their net loss to be around Rs. 1,231 crores for the March ended quarter.

The biggest shocker was that even after them getting big contracts their net profit from the last financial year 2014-15, i.e., Rs. 334 crores saw a huge fall down of Rs. 4,137 crores.

They final recorded net profit of Sail stood at Rs. 2,093 crores in 2014-15 which is turned its face towards net lose due to the huge reduction in net sales. The high amount of interest and depreciation charges made SAIL face that loss, said officials.

Their journey from profit to loss depicts that they will have to buck up and pull their socks towards work more so as to not let the company go out of their hands any more.