As construction activities were impacted due to the extended lockdown, onset of monsoon and mass migration of labourers, operating profit or EBITDA of steel producers is expected to decline by 20-30 per cent in the current fiscal due to lower demand and price realisation, India Ratings (IndRa) has said.
The agency has already predicted a 10-15 per cent reduction in steel demand for the current fiscal, mainly due to the slowdown in economy, decline in auto sector and the impact of COVID-19 pandemic on construction activities.
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