OREANDA-NEWS. Consolidated Financial Performance:

JSW Steel reported a Net Sales of 8,866 crores for Q3 FY 2012-13 showing a growth of 5% as compared to corresponding quarter of previous year. Net Sales during nine months ended 31st Dec 2012 increased by 18% to 28,243 crores relative to that of previous year.

Operating EBITDA for Q3 FY’13 and 9M FY’13 was 1,331 crores and 4,771 crores respectively showing growth of 1% and 13% compared to corresponding period of previous year. Net Loss for Q3 FY’13 was 74 crores and Net profit for 9M FY’13 was 667 crores. The consolidated loss of 74 crores for the Quarter was primarily due to losses reported by Associate company JSW Ispat Steel Limited.

Subsidiaries / Associates performance:

US Plate and Pipe Mill operation:

During Q3 FY'13, Capacity Utilization at US plate & pipe mill was 33% for plates and 16% for pipes. The Production in Q3 FY13 of Plates and Pipes were 0.08 million net tonnes and 0.02 million net tonnes respectively. As the realization for all steel products fell sharply in USA during the Quarter, the Company has incurred operating EBIDTA loss of USD 0.76 Million for the Quarter. However the cumulative operating EBIDTA for 9 months ended December 2012 was positive at USD 8.52 Million.

Mining operation:

During Q3 FY’13, the Iron ore mining company in Chile made three shipments aggregating 0.22 million tonnes and the coal mining company in US made shipments of 0.008 million tonnes.

JSW Ispat Steel Ltd. (JSWISL):

HR Coils production during Oct’12 to Dec’12 quarter was 0.65 million tonnes with capacity utilization of 79%, Operating EBITDA was 246 crores and Net loss was 131 crores after considering Forex loss of 83 crores on restatement of foreign currency monetary items which was considered by the Company as an exceptional item.