Delhi-based steel maker SAIL has turned profitable in the December quarter after a string of quarterly losses, helped in part by a friendlier policy environment for the Indian steel industry.  The government introduced a preference for locally made steel in public procurement, and passed multiple measures to control cheap imports. This along with a rise in global steel prices has also driven up margins for private steel companies, despite increases in iron ore prices.

Sail reported a revenue growth of 21% YoY to Rs. 15,324 crore, and a net profit of Rs. 43,2 crore compared to a loss of Rs. 794.8 crore in the same period last year. SAIL's share price is up on the news.  Analysts have been bearish about SAIL. There have been no recent buy calls on the company due to the loss making trend in the past couple of years.