SAIL Q3 profit seen down 24% to Rs 404 cr: CNBC-TV18 Poll

Steel Authority of India's (SAIL) third quarter profit may fall 24 percent year-on-year to Rs 404 crore due to higher depreciation and interest cost, according to a CNBC-TV18 poll.

Turnover is seen declining 1 percent to Rs 11,300 crore in December quarter from Rs 11,458 crore in the year-ago period due to flat volumes and lower realisations.

Operating profit may dip 12 percent year-on-year to Rs 990 crore and margin may fall 110 basis points to 8.8 percent during the quarter. Higher royalty costs may hit margins.

Steel volumes during the quarter hit by tepid domestic demand and delay in ramp-up of new capacities. Realisation may drop as Chinese imports and increasingly competitive CIS supplies have put pressure on prices.