KIOCL Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 13, 2024 at 12:09 pm IST
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KIOCL Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 5,494.4 million compared to INR 2,878.7 million a year ago. Revenue was INR 5,611.6 million compared to INR 3,071.1 million a year ago. Net income was INR 390.3 million compared to net loss of INR 338.8 million a year ago. Basic earnings per share from continuing operations was INR 0.64 compared to basic loss per share from continuing operations of INR 0.56 a year ago. Diluted earnings per share from continuing operations was INR 0.64 compared to diluted loss per share from continuing operations of INR 0.56 a year ago.
For the nine months, sales was INR 14,819.7 million compared to INR 8,085.4 million a year ago. Revenue was INR 15,176.4 million compared to INR 8,672.2 million a year ago. Net loss was INR 404.1 million compared to INR 1,798.8 million a year ago. Basic loss per share from continuing operations was INR 0.66 compared to INR 2.96 a year ago. Diluted loss per share from continuing operations was INR 0.66 compared to INR 2.96 a year ago.
KIOCL Limited is an India-based company, which is engaged in the business of iron ore mining, beneficiation, and production of pellets. The Company has diversified into operation and maintenance services and mineral exploration pertaining to its various core areas of expertise. The Company is also engaged in mineral exploration and is involved in the exploration of minerals such as iron, manganese, limestone, nickel, chromium, copper, gold, lead, zinc, kyanite and phosphorite. Its products include iron ore pellets and pig iron. The Company operates through two segments: Pellet and Pig Iron. The Companyâs pellets are used in blast furnaces of steel mills in Australia, China, Japan, Taiwan, Turkey and a host of other countries. Its pellets are also used in steel plants in Hungary, Yugoslavia, the United States, West Germany, Poland, Czechoslovakia, Indonesia and in some of the direct reduction plants in India.