KIOCL posts Rs 39 crore profit for Q3

New Delhi: Steel Miniratna KIOCL Limited on Tuesday turned profitable with a standalone net profit of Rs 39.03 crore for the quarter ended December 31, 2023, aided by higher revenue.

It had incurred a net loss Rs 33.88 crore during October-December period of 2022-23.

Public Sector's voice PSU Watch is now on Whatsapp Channels. Click here to join

Total revenue rose to Rs 561.16 crore in the third quarter of FY24 from Rs 307.11 crore a year ago, according to an exchange filing by the company.

Expenses stood at Rs 524.20 crore as against Rs 340.99 crore in the third quarter of last fiscal.

KIOCL Ltd, under Ministry of Steel, operates a 3.5 million tonne per annum (MTPA) iron-oxide pellet plant and a blast furnace unit to manufacture 2.16 lakh tonne per annum pig iron at Mangaluru, Karnataka.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)