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JSW Steel Q4 preview: Better steel prices to fuel net profit

作者:Gloria 日期:2018-05-16 標籤: 分類:閱讀:42

JSW Steel, the largest steelmaker in India, may see its consolidated net profit jump by 90 percent in the fourth quarter, helped by better realisation and a record quarterly steel production.

A Reuters poll of 10 analysts estimated the company to report a consolidated net profit of Rs 1,893 crore, from Rs 996 crore a year earlier.

The company will announce its results on May 16.

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The poll expects company’s consolidated revenue to increase from Rs 16,656 crore to Rs 19,556 crore in the fourth quarter ending March 31, 2018.

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JSW Steel’s margins have been boosted by a pick up in steel prices since November 2017. According to estimates, prices have increased 14 percent in six months.

On the other hand, raw material prices have corrected. While coking coal prices have reduced globally, iron ore prices have also shown a similar trend.

The new financial year has also begun on the same note, with NMDC, India’s largest iron ore miner, reducing prices by Rs 100 per ton.

The Sajjan Jindal-company will also benefit from a record quarterly steel production. The steelmaker made 4.31 million tons of steel in the fourth quarter, compared to 4.1 million tons a year earlier.

Apart from the yearly guidance, the street will also look for comments from the management on its bid for Monnet Ispat. JSW Steel on Saturday got an approval from the Competition Commission of India on its bid for Monnet Ispat, which was referred to the insolvency courts.

Monnet’s bankers had approved JSW Steel’s resolution plan in April. The final order from the National Company Law Tribunal is expected in June.

本文來源:https://www.moneycontrol.com/news/business/companies/jsw-steel-q4-preview-better-steel-prices-to-fuel-net-profit-2567943.html

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