Q1 performance was very poor actually.
If you see the total revenues, it was 1126 cr in Q1 vs 1237 cr in Q4. Why did that happen when pellet prices were higher by 2.2k in Q1 vs Q4.
The reason was 2nd intense wave of covid, leading to very poor domestic sales in Q1.
If you see the volumes slide in investor presentation, you will notice that Q1 volumes of everything- from pellet to billet etc were very poor due to low domestic sales.
I think Q1 may be one of the worst quarters in this FY because of such poor volumes.
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