Business

The shares of the government company bought by Jhunjhunwala rose from Rs 35 to Rs 115 in a year.

Highlights:

  • Its net profit stood at Rs 436.52 crore in the same quarter of the previous fiscal.
  • SAIL’s consolidated net profit grew nearly ten times in the second quarter of the current financial year.
  • The share price was Rs 34.35 on October 30 last year, which has increased to Rs 115.60 this year.

Mumbai In the second quarter of the current financial year, the consolidated net profit of the public sector company SAIL grew almost ten times to Rs. 4,338.75 crore. Steel Authority of India Ltd. In a filing to the stock exchange on Friday, SAIL said it has raised Rs. 436.52 crore net profit. Rakesh Jhunjhunwala also invested in the company a few months back.

The company’s total revenue during the July-September, 2021 quarter increased to Rs. 27,007.02 crore. In the same period a year ago, it was Rs. 17,097.57 crore. The company’s total expenses during the non-review quarter stood at Rs. 21,289 crore in the second quarter of the last financial year. 16,733.63 crores.

Similarly, the company posted a net profit of Rs. 4,303.62 crore net profit. In the same period a year ago, it was Rs. 393.32 crores. Further, the Board of Directors of the company has fixed a target price of Rs. 4 Interim dividend is also allowed.

Now if we talk about the returns received by the investors in a year, then in the shares of Steel Authority of India Limited (SAIL), investors have got a tremendous return of 236.54 percent in the last one year. The share price as on October 30, 2020 was Rs 34.35. Exactly one year later, on 30 October 2021, it has become Rs 115.60. Simply put, if a person had invested Rs 1 lakh in this stock a year ago, his Rs 1 lakh would have increased to Rs 1 lakh in a year. 3 lakh 36 thousand would have been done. Thus, in a year, the investor would have earned a net income of around Rs 2.5 lakh.

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