ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Sail, Vikrant Tyres, Zenith

SAIL Crushing Legacy SLUGGISH demand for steel in the domestic market coupled with competition from imports due to lower international prices and enhancement of supplies in the domestic market resulted in a stress on margins for the steel industry. The performance of the Steel Authority of India (SAIL) was further affected due to additional costs in the form of depreciation and interest charges following the modernisation of its Durgapur Steel Plant (DSP) and other capital schemes and the subsequent increase in working capital needs. The poor growth in industrial production affected demand for steel during the year. With the situation not improving even during 1998-99, SAIL reported a loss of Rs 617 crore during the half year ended September 1998. The public sector company had reported a profit of Rs 54 crore during the corresponding period last year.

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