Consolidated loss for the quarter, as per 5 analysts polled by Moneycontrol, will be at Rs 700 crore compared to a profit of Rs 1533.90 crore a year ago. Net revenue likely to fall 10 each QoQ and YoY to Rs 54138.60 crore.
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There appears to be anticipation that China’s measures and fall in coking coal costs will improve demand for steel, although there is no evidence yet at ground level.
Indian steel production is expected to increase throughout 2023 due to strong demand supported by the Indian Government’s push for infrastructure-led economic growth.