KIOCL Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 08, 2023 at 08:05 am EST
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KIOCL Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 4,311.5 million compared to INR 1,544.3 million a year ago. Revenue was INR 4,419.8 million compared to INR 1,748.6 million a year ago. Net loss was INR 213.9 million compared to INR 1,022.2 million a year ago. Basic loss per share from continuing operations was INR 0.35 compared to INR 1.68 a year ago. Diluted loss per share from continuing operations was INR 0.35 compared to INR 1.68 a year ago.
For the six months, sales was INR 9,325.3 million compared to INR 5,206.7 million a year ago. Revenue was INR 9,564.8 million compared to INR 5,601.1 million a year ago. Net loss was INR 794.3 million compared to INR 1,460 million a year ago. Basic loss per share from continuing operations was INR 1.31 compared to INR 2.4 a year ago. Diluted loss per share from continuing operations was INR 1.31 compared to INR 2.4 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.