Jindal Steel & Power Limited has reported 30% QoQ decline in October-December 2021 EBITDA & 37% QoQ decline in Profit after Tax on standalone basisJPL Standalone PerformanceQ3 FY 2021-22 HighlightsGross Revenue - INR 13,581 crore, down 6.7% QoQNet Revenue - INR 11,955 crore, down 9.8% QoQEBITDA - INR 3,168 crore, down 29.9% QoQProfit after Tax -INR 1,714 crore, down 37.2% QoQSteel Production - 1.96 million tonnes, up 1.9% QoQSteel Sales, including pig iron - 1.82 million tonnes, down 14.6% QoQ9M FY2021-22 HighlightsGross Revenue - INR 39,605 croreNet Revenue - INR 35,601 croreEBITDA - INR 12,210 croreProfit after Tax - INR 7,086 croreSteel Production - 5.90 million tonnes, up 8.7% YoYSteel Sales, including pig iron – 5.56 million tonnes, up 3.7% QoQDuring 3QFY22, JSP reported steel Sales (incl. pig iron) of 1.82 million tonnes, which were lower than production of 1.96 million tonnes due to logistical challenges, encountered earlier and subdued domestic demand. Export share for JSP declined to 23% during the quarter (vs. more than 40% share in the prior quarter). Higher internal consumption resulted in negligible external sales of pellets (8kt in 3QFY22). For 9MFY22, JSP reported steel shipments of 5.56 million tonnes and production of 5.90 million tonnes.Higher realizations resulted in JSP reporting Gross revenues of INR 13,581 Cr (+37% Y-o-Y). 3QFY22 EBITDA of INR 3,168 Cr fell 19% Y-o-Y as impact of higher realizations was more than offset by sharp rise in raw material cost, lower steel and pellet sales. Profit after tax (PAT) declined 23% Y-o-Y due to lower operating profit and higher tax expense partially offset by lower finance costs. For 9MFY22, JSP reported EBITDA of INR 12,210 Cr and PAT of INR 7,086 Cr.Global VenturesMozambique: Chirodzi mine produced 1.1 million tonne ROM in Q3 of F2021-Y22. Mozambique operations reported Q3 EBITDA of USD 22 millionSouth Africa: Kiepersol mine in South Africa produced 157 KT ROM. The mine reported an EBITDA of USD 3 million for the quarter.Australia: Resumption of operations at Russell Vale mine post receiving the final go ahead from the regulatory authorities coupled with buoyant coking coal prices has resulted in Wollongong Coal Limited reporting an EBITDA of USD 9 million compared to losses reported in the past 16 quarters. Wollongong Coal Limited has reported sales of 95 KT during the quarter. Wongawilli colliery however continues to remain under care & maintenance.
Jindal Steel & Power Limited has reported 30% QoQ decline in October-December 2021 EBITDA & 37% QoQ decline in Profit after Tax on standalone basisJPL Standalone PerformanceQ3 FY 2021-22 HighlightsGross Revenue - INR 13,581 crore, down 6.7% QoQNet Revenue - INR 11,955 crore, down 9.8% QoQEBITDA - INR 3,168 crore, down 29.9% QoQProfit after Tax -INR 1,714 crore, down 37.2% QoQSteel Production - 1.96 million tonnes, up 1.9% QoQSteel Sales, including pig iron - 1.82 million tonnes, down 14.6% QoQ9M FY2021-22 HighlightsGross Revenue - INR 39,605 croreNet Revenue - INR 35,601 croreEBITDA - INR 12,210 croreProfit after Tax - INR 7,086 croreSteel Production - 5.90 million tonnes, up 8.7% YoYSteel Sales, including pig iron – 5.56 million tonnes, up 3.7% QoQDuring 3QFY22, JSP reported steel Sales (incl. pig iron) of 1.82 million tonnes, which were lower than production of 1.96 million tonnes due to logistical challenges, encountered earlier and subdued domestic demand. Export share for JSP declined to 23% during the quarter (vs. more than 40% share in the prior quarter). Higher internal consumption resulted in negligible external sales of pellets (8kt in 3QFY22). For 9MFY22, JSP reported steel shipments of 5.56 million tonnes and production of 5.90 million tonnes.Higher realizations resulted in JSP reporting Gross revenues of INR 13,581 Cr (+37% Y-o-Y). 3QFY22 EBITDA of INR 3,168 Cr fell 19% Y-o-Y as impact of higher realizations was more than offset by sharp rise in raw material cost, lower steel and pellet sales. Profit after tax (PAT) declined 23% Y-o-Y due to lower operating profit and higher tax expense partially offset by lower finance costs. For 9MFY22, JSP reported EBITDA of INR 12,210 Cr and PAT of INR 7,086 Cr.Global VenturesMozambique: Chirodzi mine produced 1.1 million tonne ROM in Q3 of F2021-Y22. Mozambique operations reported Q3 EBITDA of USD 22 millionSouth Africa: Kiepersol mine in South Africa produced 157 KT ROM. The mine reported an EBITDA of USD 3 million for the quarter.Australia: Resumption of operations at Russell Vale mine post receiving the final go ahead from the regulatory authorities coupled with buoyant coking coal prices has resulted in Wollongong Coal Limited reporting an EBITDA of USD 9 million compared to losses reported in the past 16 quarters. Wollongong Coal Limited has reported sales of 95 KT during the quarter. Wongawilli colliery however continues to remain under care & maintenance.
