Volumes grew only 3% YoY to 6.22mt (est. of 6.32mt) due to capacity constraints and the impact from unavailability of rakes in the east. Realizations stood at INR4,602/t (+9% YoY, +1% QoQ), exceeding our estimate of INR4,525/t, led by higher pricing in east, partly offset by weak prices in north. The QoQ improvement in realizations was driven by higher other operating income (+INR300m QoQ, led by higher incentives). Thus, net sales came in line at INR28.6b (+13% YoY).