India’s largest steel maker JSW Steel has reported its financial results for April-June 2022 quarter. JSW Steel said “During the first quarter of FY2023, high inflation across major economies on the back of supply chain disruptions and the Russia-Ukraine conflict has impacted the global economic outlook. While India has been relatively resilient with economic activity recovering from the Covid induced slump, high inflation and policy rate tightening across the world have become formidable headwinds. The domestic steel industry was impacted by falling global prices and the imposition of a 15% duty on certain steel exports in May 2022 further exacerbated the situation with a steep fall in exports, of 26% QoQ. The export duty on steel products is expected to be a temporary measure to contain inflation and may be removed once inflation cools down. Inherent demand from auto and construction & infrastructure segments remains strong that should support overall steel consumption during FY23.””Standalone Performance Q1 FY23Crude Steel Production: 5.00 million tonnes, up 22% YoYSaleable Steel Sales: 4.03 million tonnes, up 12% YoYFlat Products Sale – 3.03 million tonne, up 13% YoYLong Products Sale – 0.87 million tonne, up 4% YoYSemis Sale – 0.13 million tonne, up 27% YoYRevenue from Operations: INR 31,105 crores, down 14% QoQOperating EBITDA: INR 3,352 crores, down 51% QoQNet Profit after Tax: INR 956 croresConsolidated Performance Q1 FY23Crude Steel Production: 5.77 million tonnesSaleable Steel Sales: 4.49 million tonnesRevenue from Operations: INR 38,086 croresOperating EBITDA: INR 4,309 croresNet Profit after Tax: INR 839 croresDuring the quarter, JSW Steel Coated Products, including its subsidiaries, registered a production volume-(GI/GL + Tin) of 0.68 million tonnes and sales volume of 0.68 million tonnes. Revenue from Operations for the-quarter stood at INR 6,891 crores, and an EBIDTA loss of INR 154 crores. Margins were impacted by NRV provisions and payment of export duty. The subsidiary reported a Loss after Tax of INR 209 crores for the-quarter.During the quarter, BPSL registered Crude Steel Production of 0.61 million tonnes and Sales volume of 0.48 million tonnes. Revenue from Operations and Operating EBITDA for the quarter stood at INR 4,704 crores and INR 698 crores, respectively. BPSL reported a Profit after Tax of INR 221 crores for the quarter.JSW Steel USA Ohio in US produced 105,997 net tonnes of HRC and 174,398 net tons of Slabs during the quarter. Sales volumes for the quarter stood at 1Q8.365 net tons of HRC and 65,749 net tons of slabs. It reported an EBITDA of USD 1.14 million for the quarterUS Plate and Pipe Mill in Texas in US produced 87,213 net tons of Plates and 4,658 net tons of pipes, reporting a capacity utilization of 37% and 3%, respectively, during the quarter. Sales volumes for the quarter stood at 81,788 net tonnes of plates and 4,663 net tonnes of pipes. It reported an EBITDA of USD 33.06 million registering 14% growth QoQ.JSW Steel’s Italy based Aferpi produced 96,297 tonnes and sold 86,772 tonnes during the quarter. It reported an EBITDA profit of EUR 4.0 million for the quarter.