Steel authority of India limited (SAIL), country’s largest steel producer, recently posted a profit of Rs 1,835 crore for the quarter ended June 30.

The company has registered a growth of 20.3 % over corresponding period of the prvious financial year. In the first quarter of fiscal 2007-08, SAIL has a net profit of Rs 1,525.12 crore.

From Rs 8,346.40 crore in the year-ago period, the company’s total income has rose by 36.85 % bringing it up to Rs 11,421.99 crore in the latest quarter.

Despite of the burden of Rs 1,434 crore because of higher costs of coal, freight, ferro-alloys, fuels and maintaining a constant price line during May-June period, the company still showed improvement in its financial performance.

SAIL chairman Mr. SK Roongta reported, “Our strategy of thrust on production of value-added and special quality steels, higher production with still better capacity utilisation and continual improvement in operational efficiencies has helped the company offset cost pressures and improve profitability, in spite of holding the price-line.”

The PSU said that due to 10% growth in domestic sales at 2.62 million tons, the firm’s financial performance improved in the first quarter.

SAIL said that this helped the company to register sales turnover of Rs 12,183 crore achieving a growth of 37 per cent during the period.