Revenue from operations declined 1.32% YoY to Rs 40,793 crore during the quarter.
Profit before exceptional items and tax (PBIT) fell 61.22% YoY to Rs 1,281 crore in Q3 FY25. PBIT stood at Rs 103 crore, which includes the impact of the coal block termination by the Ministry of Coal during the quarter. As a result, the bid security forfeiture and related expenditure amounted to Rs 103 crore.
During the quarter operating EBITDA stood at Rs 5579 crore, with EBITDA margin of 13.5%.The EBITDA increased 3% QoQ as fall in steel realisaions was offset by higher volumes and lower costs primarily coking coal.
Consolidated crude steel production for the quarter stood at 7.03 million tonnes higher by 2% YoY and 4% QoQ, Capacity utilization at the Indian operations was 91% during the quarter, Steel sales for the quarter stood at 6.71 million tonnes, higher by 12% YoY and 10% QoQ.
Crude Steel Production at the Indian Operations for the quarter was at 6.82 million tonnes, higher by 3% YoY as well as QoQ. Steel Sales for the quarter were 6.54 million tonnes, higher by 12% YoY and 10% QoQ. Domestic sales in Q3 FY25 were highest ever at 5.99 million tonnes, growing 8% QoQ and 14% YoY, supported by strong Institutional and Retail sales.
A better product mix resulted in sales of VASP at 3.9 million tonnes, which increased by 9% QoQ and 12% YoY. Exports constituted 8% of sales from the Indian operations for Q3 FY25 compared with 7% of sales in Q2 FY25.
Net debt stood at Rs 80,921 crore as of 31st December 2024, lower by Rs 1,884 crore as against 30th September 2024, on cash generated from operations and release of working capital. At the end of the quarter, net gearing (Net debt to equity) stood at 1.00x as against 1.01x at the end of Q2 FY25.
JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.