JSW Steel Q2: Exports of iron ore in the first six months, says Seshagiri Rao

It was a good show from JSW Steel as revenue beat is driven by higher volumes, sequentially higher prices and a better sales mix.

“The Q2 standalone EBITDA per tonne at Rs 10,140. It’s strong on higher volume, better sales mix and higher realisations,” said Seshagiri Rao, Joint MD & Group CFO of the company in an interview with CNBC-TV18.

Domestic steel prices are at a 5-6 percent discount to landed imports, he further said, adding that iron ore exports have doubled. He is confident of achieving sales guidance of 15 mt.

“Exports of iron ore in the first six months of this year are more than doubled. So that is a bit of a concern. The domestic industry is suffering from lack of iron ore as a lot of exports are happening from India.” he further added.

On Bhushan Power, Rao said the Supreme Court’s final hearing on Bhushan Power is on November 3 and we look to close Bhushan Power post-hearing.