Jindal Steel & Power is expected to post a loss of Rs 606 crore in Q3FY17 against loss of Rs 573 crore in year-ago quarter due to depreciation and interest charges.
The company defaulted on interest repayments to its bondholders in in second half of last calendar year.
Revenue during the quarter may increase 19 percent year-on-year to Rs 5,200 crore while operating profit may jump 87 percent to Rs 1,030 crore and margin may expand 700 basis points to 20 percent, driven by higher steel volumes and improved realisations.
Analysts expect steel EBITDA per tonne to increase 4 percent QoQ aided by higher realisations. Impact of higher coking coal costs will be low for JSPL, they say.
Key triggers to watch out for would be deleveraging plan, freeing up of iron ore inventory at Sarda mines, and pending outcome of case pertaining to coal blocks that were won in an auction & then cancelled.
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