Team News Riveting
Mumbai, March 10
The Board of Directors of the state-run Steel Authority of India Limited (SAIL) would meet on March 16 to consider the interim dividend for the current fiscal.
“In terms of Regulation 29(1) of SEBI (Listing Obligations & Disclosure Requirements) Regulations. 2015. it is hereby informed that the meeting of the Board of Directors of Steel Authority of India Limited (SAIL) will be held on 16th March, 2023 at New Delhi, to consider declaration of Interim Dividend for the Financial Year 2022-23,” SAIL said in a regulatory filing today.
If any, in case, the Board decides to consider and declare the Interim Dividend, the record date for payment of Interim Dividend would be 24th March, 2023, the company added.
The company has reported 65 per cent fall in its net profit at Rs 542.18 crore for third quarter ending December 31, 2022. The company attributed it to higher expenses. The PSU had posted a net profit of Rs 1,528.54 crore in the October-December period last fiscal year.
SAIL’s total income fell to Rs 25,140.16 crore in the December quarter of the current fiscal year from Rs 25,398.37 crore a year ago. “The challenging global situation and economic scenario all over the world had its impacts on the steel prices affecting the margins of the steelmakers,” SAIL had said in a statement.
The company said its total expenses rose to Rs 24,825.11 crore, as compared to Rs 23,209.88 crore a year ago.
