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Updated on: Monday, November 01, 2021, 12:12 PM IST

SAIL shares up over 13% as Q2 net profit jumps 10-fold

The stock zoomed 13.34 per cent to Rs 130.35 on BSE. On NSE, it jumped 13.20 per cent to Rs 130.30 / Representational image |

The stock zoomed 13.34 per cent to Rs 130.35 on BSE. On NSE, it jumped 13.20 per cent to Rs 130.30 / Representational image |

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Shares of SAIL on Monday rallied over 13 per cent after the company reported an over 10-fold jump in its consolidated net profit for the second quarter ended September 2021.

The stock zoomed 13.34 per cent to Rs 130.35 on BSE. On NSE, it jumped 13.20 per cent to Rs 130.30.

At 12.10 PM, the share price was up 9.90 percent at Rs 126.50 on the BSE. On NSE, the stock was 10.17 percent up at Rs 126.80.

The domestic steel giant on Friday reported an over 10-fold jump in its consolidated net profit at Rs 4,338.75 crore for the second quarter ended September 2021.

The company had posted Rs 436.52 crore net profit in the year-ago quarter, Steel Authority of India Ltd (SAIL) said in a regulatory filing.

During the July-September period, the company said its total consolidated income also increased to Rs 27,007.02 crore, from Rs 17,097.57 crore in the corresponding quarter of the previous fiscal.

SAIL's expenses during the quarter were at Rs 21,289 crore as against Rs 16,733.63 crore a year ago. On a standalone basis, the company posted a net profit of Rs 4,303.62 crore during the quarter.

It had registered a net profit of Rs 393.32 crore during the same quarter last year.

(With inputs from PTI)

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Published on: Monday, November 01, 2021, 12:12 PM IST
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