It’s reported that Indian steelmaker Steel Authority of India Limited (SAIL) released its financial result for the fourth quarter and full fiscal year 2012/13 ended on March 31st. In the fourth quarter, SAIL posted a net profit of INR4.46 billion, slumping from a net profit of INR15.76 billion in the same period of a year ago. Meanwhile, its gross sales revenues totaled INR136.6 billion in the first quarter of this year, falling by 7.6% year on year. In the fiscal year, SAIL registered a net profit of INR21.7 billion, falling substantially by 39% year on year. The company realized gross sales revenues of INR493.5 billion, down by 2% year on year.