Revenue for Q1 FY23 has increased by 26% YoY to ₹14,738 crores. Adjusted EBITDA fell by 32% YoY to ₹2,993 crores even after considering a one off FX of Standalone of ₹446 crores. Profit after Tax fell by 23% YoY to ₹1,929 crores for Q1 FY 2023. Total Expenses rose by 46% and Net Debt to EBITDA has improved to 0.54x. The management believes that the company can become Net Debt free by Fiscal Year 2023.
Steel Production grew 1% YoY to 1.99 million tonnes but Steel Sales grew by 8% to 1.74 million tonnes. Profit Before Tax (PBT) fell by 28% YoY to ₹2534 crores. The management has shared that sluggish demands and rising input costs are the reasons for the decreased profits in this quarter. In this quarter’s press release, management suggested that it has a negative outlook for international demand but a positive outlook for domestic demand in the coming months.
To further compare this quarter’s results to the past, check out this link.