AMNS India earnings fall 63 per cent in third quarter
AMNS India posted an earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $204 million during the quarter under review against $551 million a year ago, a fall of 62.9 per cent.
According to the company, the EBITDA was down due to lower selling prices, higher coal costs and lower pellet sales contribution (following the introduction of the export duty during the prior quarter) offset in part by higher steel shipments.
The JV’s crude steel production in Q3 2022 at 1.7mt was 12.1 per cent lower compared with 1.9mt in the third quarter of 2021 on account of maintenance. Steel shipments at 1.6mt were also lower than 1.8 mt in July-September 2021.
SAIL slips into red
SAIL on Thursday slipped into the red, suffering a consolidated loss of Rs 329 crore during the quarter ended September 30. It had clocked a Rs 4,338.75 crore net profit during the same period a year ago.
The company has also reported a fall in its total income at Rs 26,642.02 crore from Rs 27,007.02 crore in the same quarter a year ago.
JSPL PAT falls 91%
Jindal Steel & Power Ltd has posted a Rs 219-crore profit after tax in the second quarter, reporting a 91.5 per cent decline over the same period of the last year.
JSPL recorded a PAT of Rs 2,584 crore in Q2FY22.
Total revenue from the operation at Rs 13,521.4 crore was nearly flat compared with Rs 13,611.71 crore in the same period of the last year. Sales were marginally down to 2.01mt from 2.13mt in Q2FY22.
The company, promoted by Naveen Jindal, said JSPL has prepaid its entire overseas long-term debt and refinanced a portion of its standalone debt. JSPL’s consolidated net debt further reduced to Rs 7,054 crore on the back of these repayments as well as working capital release.
Kilburn back in black
Kilburn Engineering posted a profit after tax of Rs 7.42 crore in Q2 compared with a loss of Rs 1.77 crore in the same period last year.
Revenue from operations went up by 127 per cent to reach Rs 52.13 crore from Rs 22.94 crore in Q2FY22. The company reduced debt by Rs 18.31 crore.