JSW Steel reports strong results for Q3
JSW Steel Ltd has reported strong growth on the revenue and operating fronts. Revenue grew by 16.6% YoY to INR 17,861crores. EBITDA stood at INR 3,851crores, up by 36.5% YYoY. EBIDTA margin rose by 314bps yoy to 21.6%. Adj Net Profit stood at INR 1,510, after adjusting for a one off gain of INR 264 crores relating to provisions on one of the company’s foreign mines, up by 111.5% YoY
Consolidated steel sales stood at 4.03 million tonnes, up 12% yoy.
Standalone steel sales rose to 3.97 million tonnes, up 9% yoy. This growth was supported by strong sales growth for Rolled Long and Semis, which were up by 23% and 134% respectively. Exports, comprising 30% of total volumes sold, rose 56% from a year earlier.
Production and sales for JSW Steel Coated Products stood at 0.35 millionn tonnes and 0.51 millionn tonnes respectively.
Production for the US based plate and pipe mill stood at 59,623 tonnes of plates and 15,109 tonnes of pipes for Q3FY18. EBITDA stood at USD 3.86 million for the quarter.
The company said it's on track to meet its guidance on sales and will achieve the 15.5 million tonnes target by the end of this year.
Source : Strategic Research Institute, SteelGuru