[Investors] Tata Steel: report net sales of Rs236bn (yoy down 46.6%, qoq up 1.3%), EBITDA of Rs6.9bn (yoy down 91.6%, qoq loss of Rs299mn) and net loss of Rs12bn (yoy net profit Rs50.3bn, qoq net loss Rs19.9bn).

We expect Tata Steel (consolidated) to report net sales of Rs236bn (yoy down 46.6%, qoq up 1.3%), EBITDA of Rs6.9bn (yoy down 91.6%, qoq loss of Rs299mn) and net loss of Rs12bn (yoy net profit Rs50.3bn, qoq net loss Rs19.9bn). Key things to watch out for – company's outlook on volume growth, cost reduction and improvement in Corus performance.

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