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Tata Steel is expected to report a 90 per cent fall in March quarter profit at ₹955 crore. Net sales for the quarter are estimated at ₹60,458 crore, down 13 per cent YoY, according to a Kotak Institutional Equities report.
Kotak sees Europe’s business reporting an EBITDA loss of $111 a tonne led by weak demand, resulting in an adverse product mix partly offset by sequentially moderating costs.
Also read: Tata Steel saw record operational performance in FY23: CEO TV Narendran
Tata Steel achieved its highest-ever annual crude steel production in FY23, led by debottlenecking across sites and ramp-up of Neelanchal Ispat Nigam.
On a YoY basis, the production of 19.9 million tonnes grew by 4 per cent in the March quarter. In India, the delivery volume rose 0.6 per cent to 5.15 million tonne in the March quarter. Tata Steel said this was the highest-ever quarterly delivery volume seen by the business.
Overall deliveries also surpassed FY22 record by 3 per cent at 18.87 million tonne.
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