The company delivered a very strong performance for Q1FY18. Despite higher coke prices, the company optimized costs. Its sales volume was up 6% (YoY) at 3.99 mt. Total income from operations rose 16% at Rs.2306 crore. It earned the highest even quarterly EBITDA at 557 crore, up 9%. EBITDA per tonne was up 4% at Rs.1405/tonne and margins showed a very big 161 bps jump at 27.04%.

The company ended the quarter with a net profit at Rs.164 crore, up 74%. During Q1, it repaid debt of Rs.329 crore and consequently, cost of debt came down to 8.3% from 8.7% sequentially. Its net debt now stands at Rs.4602 crore, down from 5241 crore (QoQ).

The company’s equity is at Rs.17.79 crore and EPS is at Rs.18.42 (FV of Rs.2).