Lower RM cost and higher volume drive EBITDA increase SAIL turned EBITDA positive at INR9.1b in 2QFY18 (7% beat), as against a loss of INR0.8b in 1QFY18, due to lower raw material costs and higher volumes. Interest cost rose 9% QoQ to INR6.4b and depreciation increased 10% QoQ to INR7.6b. Net exceptional charge of INR2.9b pertains to (a) excess mining case in Odisha and Jharkhand of INR3.3b, (b) VRS of INR2.1b and (c) DMF reversal gain of INR2.4b. Adj. net loss reduced from INR7.9b in 1QFY17 to INR3.2b (est. of INR6.6b). Sales grew 17% QoQ (-2% YoY) to 3.5mt. NSR increased just 1% QoQ to...