Posted on 30 Jul 2015
JSW Steel is expected to report consolidated net loss at Rs 80 crore in the quarter ended June against net profit of Rs 656 crore in the year-ago period, according to the average of estimates of analysts polled by CNBC-TV18.
Weak operational performance and lower revenues may force the company to post loss. Total income from operations is likely to decline 10 percent to Rs 11,928 crore from Rs 13,253.6 crore during the same period. Sales volumes and realisations may hit due to weak domestic steel demand and higher steel imports. Sharp fall in global prices may also hit exports realisations. Production numbers were strong during the quarter. Crude steel grew by 10 percent year-on-year to 3.4 million tonnes while flat steel increased by 3 percent to 2.5 million tonnes and long steel jumped 32 percent to 0.69 million tonnes. Sales volumes are likely to come in 6 percent higher year-on-year at 3.05 million (against 2.88 million tonnes). Realisations may decline 5 percent on sequential basis and 15 percent on yearly basis.
