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SAIL Q4 net at Rs 1,577 crore, beats estimates
TK Ananth Kumar, Director Finance, Oil India told NDTV Profit that the company showed 7 per cent growth in oil and 12 per cent growth in gas despite subsidy burden. “We aim to produce 2.92 billion cubic meters of gas in FY13,” he said.
29 May 2012, 03:02 PM IST 
Former Olympus president and chief executive Michael Woodford.
Shares in SAIL surged to the top of the Nifty index after the state owned steel major reported better than expected numbers in the March quarter.
Sales jumped 21.5 per cent at Rs 14,785 crore in the fiscal fourth quarter against Rs 12,166 crore in the year ago period. Net profit rose 4.6 per cent at Rs 1,577 crore against Rs 1,507 crore year-on-year.
The company reported a forex loss of Rs 899 crore in the March quarter.
A poll conducted by NDTV Profit estimated sales at Rs 13,568.7 crore and PAT at Rs. 1,470 crore.
At 2.42 p.m., the stock traded 3.1 per cent higher at Rs 96.35 on the BSE, while the Sensex gained 0.39 per cent at 16,481.
