Steel Authority of India Limited on Wednesday reported 80% drop in standalone net profit at Rs 776 crore for the quarter ended June 30, 2022. It reported standalone net profit of Rs 3,850 crore in the year-ago period.

The company’s standalone revenue from operations rose 16% to Rs 24,029 crore in Q1FY23 as against Rs 20,642 crore in Q1FY22.

On Wednesday, the firm’s scrip on BSE closed trading 2% higher at Rs 79.85.

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