Forex loss axes SAIL Q1 net profit to 18%

Following this, SAIL had approached the Home Ministry for deployment of central paramilitary forces and was willing to foot the bill.

The Rowghat mines, spread over 2,000 hectares, has over 500 million tonnes iron ore reserves and is crucial for meeting SAIL's Bhilai Steel Plant's (BSP) iron ore needs.

During the quarter, the company consumed raw material worth Rs 5,642 crore compared to Rs 5,234 crore in the same quarter last fiscal. Power and fuel consumption during Q1 accounted for Rs 1,224 crore.

However, the Chairman said impact of higher input costs was partially neutralised by higher net sales realisations in the current quarter, which grew by 8.5 per cent.

Shares of the company today closed at Rs 85.30 apiece on the BSE, up 0.65 per cent from the previous close.

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