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Q4 results: SAIL posts drop in profit on softer steel prices, higher costs
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₹1,126 crore ($135.22 million) from ₹1,159 crore a year earlier. Input costs rose about 2% to ₹15,130 crore.
Earnings of steelmakers in India have been under pressure due to higher imports from China that is selling finished steel products at cheaper prices, at a time when it's grappling with a struggling property sector and elevated U.S. tariffs.
A surge in costs of key steelmaking ingredients such as coking coal and iron ore in the quarter further hurt the metal makers. Last week, India's JSW Steel also reported a fall in fourth-quarter profit.
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