Elevated coal price a drag on margins of domestic base metal players: ICRA

| | New Delhi
  • 0

Elevated coal price a drag on margins of domestic base metal players: ICRA

Friday, 06 January 2023 | PTI | New Delhi

The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICRA said on Thursday.

In a recent note on the primary base metal industry, ICRA said that the earnings of the industry would continue to remain under pressure in the second half of the current fiscal, following a dull performance in the first half of FY'23.

"Elevated coal costs along with metal price corrections remain the key headwinds affecting the margins, with no immediate relief in sight," ICRA said in a statement.

On account of input cost pressures, the rating agency said it has revised its estimates of operating profitability of domestic players downward to 18 per cent in the current fiscal.

ICRA's operating profitability forecast for domestic players is almost 3 percentage points lower compared to its earlier forecast made in September last year and 10 percentage points lower compared to FY'22.

State Editions

BJP launches campaign to gather Delhiites feedback

01 March 2024 | Staff Reporter | Delhi

LG approves delayed lease deeds for workers housing

01 March 2024 | Staff Reporter | Delhi

BBA student killed by friends, body buried in farmland

01 March 2024 | Staff Reporter | Delhi

DDA offers temporary house to tunnel rescue hero

01 March 2024 | Staff Reporter | Delhi

Two days flower festival from March 2

01 March 2024 | Staff Reporter | Delhi

Shastri Park gets Convention Centre

01 March 2024 | Staff Reporter | Delhi

Sunday Edition

Exploring Pages of Possibility

25 February 2024 | Rajdeep Pathak | Agenda

Risks Lurk Behind The Glamour

25 February 2024 | Archana Jyoti | Agenda

DOCTORSPEAK | India's Over-the-Counter Topical Steroid Crisis

25 February 2024 | Dr Diksha Agrawal | Agenda

WHO: Nations must step up tobacco control measures

25 February 2024 | Saima Wazed | Agenda

Rhythm of the Ruins unveils emotional brilliance

25 February 2024 | Swarn Kumar Anand | Agenda

astroturf | Saraswati calls for being in harmony with all

25 February 2024 | Bharat Bhushan Padmadeo | Agenda