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In an interview with CNBC-TV18, RK Goyal, MD of Kalyani Steels spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, RK Goyal, MD of Kalyani Steels spoke about the results and his outlook for the company.
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.
"Our cost will go up to the extent of around Rs 1,500-2,000 per tonne depending on the quantity each company is consuming", RK Goyal, MD of Kalyani Steels told CNBC-TV18.
Our volumes for the third quarter were down 12-15 percent because of dumping from China, Korea and Japan, says RK Goyal, MD of Kalyani Steel in an interview to CNBC-TV18.
If the government does not support the industry where there is disproportionate advantage in one country vis-Ã -vis India, the industry will die over a period of time, says management of Kalyani Steels.
Kalyani Steels' net profit rose 12.93 percent to Rs 24.02 crore in Q4FY15.
RK Goyal, managing director, Kalyani Steels Heavy imports from China, weak demand particularly in the auto sector have led to tremendous pressure on steel prices.
The company‘s net profit stood at Rs 22.8 crore versus Rs 11.8 crore year-on-year (YoY) and its sales came in at Rs 314.7 crore.
In an interview with CNBC-TV18, RK Goyal, MD, Kalyani Steel said, last quarter, there was sharp increase in cost. He further said the margins will be close to 7% or so.