JSPL’s consolidated net revenues in Q3 FY2021 (Sep-Dec) rose by 40pc to Rs105,340mn ($1443.61mn) from the prior year quarter, while it grew by 17pc from Q2 on improved product mix and better efficiencies, according to the company’s results update. Higher raw materials prices brought parity between long steel and flat steel prices in Q3, said the statement. In the nine-month (9M, Apr-Dec) the company’s consolidated net revenues increased by 15pc to Rs271,080mn from the prior period.
On a standalone basis, JSPL’s Q3 net revenues rose by 32pc to Rs87,380mn, while PAT jumped to Rs22,260mn up from Rs970mn in the prior year quarter. PAT improved by 123pc from Rs9,980mn in Q2.
JSPL’s standalone steel production in Q3 FY2021 rose by 20pc to 1.93mn mt from the prior year amid robust recovery in domestic sales. Exports declined to 21pc of total sales, down from 38pc in Q2 FY2021. The company’s pellet production rose by 3pc from the prior year quarter but external sales of pellets reduced to 0.40mt, down by 38pc from a year ago amid higher in-house consumption to ramp up steel production.
In 9M, standalone steel production rose by 14pc to 5.43mn mt, while pellet production rose 7pc to 5.72mn mt.
In Mozambique, Chirodzi mine produced 872,000mt ROM coal in Q3, up by 36pc from a year ago. EBITDA was $0.38mn in Q3.
Kiepersol mine in South Africa produced 146,000mt ROM coal in Q3, an increase of 42pc from the prior year quarter. EBITDA rose to $1.8mn from $1.1mn in the prior year quarter.
In Australia, both Wongawilli & Russell Vale mines remained under care and maintenance.
($1 = Rs72.96)