New Delhi, Feb. 12 -- Shares of public sector steelmaker Steel Authority of India Ltd (SAIL) rose 3.5 percent in morning trade on Wednesday, February 12, following the release of its earnings for the quarter ended December 2024 (Q3FY25). Despite reporting a sharp decline in net profit due to increased expenses, the stock found some buying interest as revenue continued to show growth.

SAIL reported a consolidated net profit of Rs.141.89 crore for Q3FY25, marking a significant 66 percent decline from Rs.422.92 crore in the same quarter of the previous year. The decline was primarily attributed to higher costs and pricing pressures. On a sequential basis, profit after tax (PAT) plunged 84 percent from Rs.897 crore recorded in Q2FY25.

Reven...