Sail and Tata report return to strength in first half

Steel Authority of India Ltd (Sail) and Tata Iron and Steel Company (Tisco) who between them accounted for nearly 50 percent of the steel production in India in the April-September period have seen a sharp rise in net profit, production and exports.

V.S. Jain, chairman of Sail said: “I firmly believe Sail will build on its success and live up to the expectations of its stake-holders,". Sail's accumulated losses now stand at over Rs20 billion and its debt burden has fallen by about Rs19bn to Rs 109.90 bn. It has also downsized the workforce by 38,600 during the last five years.

Published

October 31, 2003

10:14 GMT

Mumbai