Earnings Today: Jindal Steel & Power, Bank Of India, Tata Chemicals
JSPL, Bank of India and Tata Chemicals among firms reporting Q1FY18 numbers today.
Jindal Steel & Power Ltd., Bank of India Ltd., Tata Chemicals and SRF Ltd. are among companies reporting the financial results for the April-June quarter today.
JSPL is expected to see a 28 percent increase in revenue to Rs 5,947 crore, according to Bloomberg consensus estimates. This, in turn, will help it narrow its losses to Rs 474 crore from Rs 1,083 crore in the year before. Operating income is seen 35 percent higher at Rs 1,337 crore as good seasonal demand is expected to have aided generation of power during the quarter.
What To Watch
- Operating profit growth given lower steel prices
- Impact of high coking coal cost on margin
- Realisation of long products
Bank of India Ltd. is too is expected to see its loss narrow to Rs 46 crore from Rs 742 crore earlier. Net interest income is estimated to rise 14.3 percent even as loan growth remains largely unchanged at 2-3 percent. Asset quality stress is likely to continue.
What To Watch
- Stress addition trends and outlook for FY18
- Loan recovery trends
- Outlook on balance sheet growth
- Guidance on capital dilution
Textile-to-chemical manufacturer SRF Ltd. may see revenue rise 17 percent to Rs 1,426 crore on strength in its chemicals business. Margin is expected to contract to 18.5 percent from 23.8 percent earlier. Profit is likely to fall 6.9 percent as higher fixed costs pull down the bottomline.
What To Watch
- Performance of specialty chemicals segment
- Margins contraction owing to higher fixed cost
- Impact of GST and lower agri commodity prices on Indian operations
Other Results
Tata Chemicals
Thermax
Muthoot Finance
