Preview: India's Tata Steel to post double-digit profit, revenue growth in Q1, analysts say
BUZZ-PREVIEW-India's Tata Steel to post double-digit profit, revenue growth in Q1, analysts say ** Tata Steel TISC.NS rises as much as 0.9% to 188.99 rupees ahead of June quarter results
** Analysts on avg expect India's second-largest steelmaker by market capitalisation to report a 10.5% y/y rise in Q1 consol net profit to 22.95 billion rupees ($239.73 million)
** Analysts also expect TISC to post a 10.3% y/y jump in Q1 revenue to 586.65 bln rupees
** Systematix expects improved steel realizations and continued cost optimisation to support stable margins despite seasonally lower volumes for Tata Steel
** PL Capital expects TISC to slip back to EBITDA loss on lower volumes and elevated costs
** Analysts at Elara Capital expect higher iron ore and coking coal cost to moderate benefits of improved realization for all steelmakers in Q1
** Rival JSW Steel JSTL.NS posted Q1 profit beat on firmer steel prices and steady volumes
** Avg rating of 34 analysts covering the stock is "hold" and median PT is 225.5 rupees - data compiled by LSEG
** YTD, TISC up ~3%
($1 = 95.6475 Indian rupees)
($1 = 95.7325 Indian rupees)
(Reporting by Anuran Sadhu and Urvi Dugar in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))