JSW Q3 profit way below consensus

WSE-listed miner JSW had PLN 360.4 million Q3 net profit, 35 percent below the analysts' consensus polled by the Polish Press Agency (PAP). In the corresponding period last year, the company posted PLN 139 million loss. Revenues amounted to PLN 1.99 billion, up by 19.2 percent y/y, while EBITDA stood at PLN 670.1 million, an impressive 1,016 percent y/y growth. The worse-than-expected results can be blamed on failing coal prices, which dropped by 20.6 percent q/q.