S P Tulsian of sptulsian.com says if SAIL's results are a reflection of Tata Steel's numbers, then they too could post very poor numbers.
SAIL posted its results today.The company's September quarter profit rose 12%,YoY to Rs 543 on forex gain and improved realization. The company's EBITDA margin dropped 190 basis points YoY to 8.9 percent during the quarter. SP Tulsian of sptulsian.com says if SAIL's results are a reflection of Tata Steel's numbers, then they too could post very poor numbers.
Below is the edited transcript of Tulsian's interview with CNBC-TV18
Q: What do you make of the numbers that SAIL reported?
A: These are very poor numbers. Infact, if you compare it on a year-on-year basis, inspite of the Rs 500 crore exchange loss in the corresponding quarter of the previous year and if you see the gain, those are really very poor numbers. Apart from that, if you see the interest income and the interest expenditures, inspite of the netting off, the results are really very bad.
If that is giving us an indication that probably Tata Steel could also post their numbers on similar lines, then those too could be very poor numbers. As regards to SAIL, they have posted very poor numbers.
Q: How would you approach Tata Motors going forward now?
A: There is slight disappointment on the numbers. I am not too convinced with the prices at which it has been ruling, because I have been taking the call at Rs 275-276 or maximum Rs 280 where the profit booking was expected.
In some of the stocks; where we have been seeing irrational of contradictory behaviour like we have seen in the PSU banking sector, inspite of the poor numbers, many stocks have been going up.
Set email alert for
ADS BY GOOGLE
video of the day
No one doubts India; rate cut lurking: Motilal Oswal