SAIL Q3 net dips 56%, declares 13% dividend

Steel Authority of India (SAIL) today reported 56 per cent decline in net profit at Rs 843.34 crore for the quarter ended December 31, 2008, as compared to Rs 1,934.66 crore in the same quarter a year ago. Total income decreased 3.78 per cent to Rs 9,475.67 crore for the quarter under review, as against Rs 9,847.64 crore. The company has informed Bombay Stock Exchange that the board has declared an interim dividend of Rs 1.30 per share, at the rate of 13 per cent, on shares face value of Rs 10. Shares of SAIL were trading at Rs 72.70, up 1.61 per cent in the late afternoon trade on the BSE.