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Last Updated : Feb 09, 2017 07:14 PM IST | Source: CNBC-TV18

Tough to maintain margin; no plan to pay dividend: Kalyani Steel

Speaking to CNBC-TV18, Kalyani Steels Managing Director RK Goyal said that profitability in Q3 was impacted by forex losses triggered by a falling rupee.

It would be difficult for Kalyani Steels to maintain margins going forward, feels Managing Director RK Goyal. Innovative solutions would be required for the same, he told CNBC-TV18 in an interview after the company posted a decent third quarter.

Profitablity in Q3 was impacted by forex losses triggered by a falling rupee, he said, while highlighting the tremendous pressure on costs because of the high prices of coking coal and iron ore.

Despite the hurdles, volumes had expanded, going a long way in aiding profitablity, he noted.

The company posted 31.2 percent rise in net profit YoY for the third quarter at Rs 34.3 crore. Its total income went up 51.4 percent to Rs 391.5 crore.

Goyal said there were no plans as of now to pay out dividend.

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First Published on Feb 9, 2017 01:44 pm