State-owned KIOCL on Tuesday turned profitable with a standalone net profit of Rs 39.03 crore for the quarter ended Dec. 31, 2023, aided by higher revenue.
It had incurred a net loss Rs 33.88 crore during October-December period of 2022-23.
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.
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KIOCL Ltd, under Ministry of Steel, operates a 3.5 million tonne per annum iron-oxide pellet plant and a blast furnace unit to manufacture 2.16 lakh tonne per annum pig iron at Mangaluru, Karnataka.
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