Tata Steel is expected to more than double its net profit to ₹1,025 crore in Q1FY24, against ₹283 crore logged in the same period last year due to a lower base.
Revenue may rise 3 per cent year-on-year to ₹57,728 crore.
The firm will report earnings on Wednesday.
On a sequential basis, net profit may fall 15 per cent.
Tata Steel India sales were up 3 per cent to 4.94 million tonnes (MT) year-on-year. Europe sales remained strong at 2.21 MT, up 4.2 per cent, driven by normal operations in the Netherlands.
Consolidated sales volume was up 4 per cent y-on-y. Steel HRC prices in Mumbai were down 6 per cent y-on-y.
Axis Securities forecasts EBITDA per tonne at 4 per cent to ₹14,077, due to reduced operating leverage from lower sales volumes.
In Europe, EBITDA per tonne loss is expected to narrow y-on-yto $37 from $96 in Q1FY24. The Netherlands is expected to report positive EBITDA, while the UK remains weak.
Analysts expect Europe to report EBITDA loss of ₹520 crore against ₹1,570 crore in Q1FY24.