Sparks fly as employees cut a steel slab at Jindal Steel and Power plant in Raigarh, Chattisgarh. (Photographer: Udit Kulshrestha/Bloomberg)

Rise In Coking Coke, Iron Ore Prices Will Add Pressure On JSPL, NA Ansari Says

Jindal Steel & Power Ltd. would face pressure if the prices of coking coke and iron ore prices increase further, the Chief Executive Officer of its steel business, NA Ansari, said.

"The coking coal prices and iron ore prices are internationally driven. Although its prices have declined in the past month, iron ore prices have significantly increased in India and that has been a worry for us," Ansari told BloombergQuint in an interaction, adding that he expects raw material costs in the coming quarter to be at same levels as witnessed in the April-June period.

Key earnings highlights (Q1, YoY):

  • Revenue up 70.5 percent to Rs 9,665.4 crore.
  • Net profit at Rs 180.8 crore versus net loss at Rs 387.1 crore.
  • Ebitda up 68.3 percent at Rs 2,276.5 crore.
  • Margin at 23.5 percent versus 23.9 percent.