SAIL Q3 net up 124 pct

SAIL Q3 net up 124 pct, beats f'cast
Mon Jan 29, 2007 3:31 PM IST

MUMBAI (Reuters) - Top steel maker Steel Authority of India Ltd. said on Monday quarterly profit more than doubled, beating expectations, on higher sales and better prices.

The state-run company said net profit rose to 14.71 billion rupees for the fiscal third quarter ended Dec. 31, from 6.56 billion a year earlier. Sales rose 29 percent to 96.57 billion rupees.

A Reuters survey of seven brokerages had forecast net profit of 14.41 billion rupees on sales of 86.34 billion.