KIOCL Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 09, 2022 at 11:27 am
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KIOCL Limited reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 1,544.3 million compared to INR 4,623.1 million a year ago. Revenue was INR 1,748.6 million compared to INR 4,831 million a year ago. Net loss was INR 1,022.2 million compared to INR 303.3 million a year ago. Basic loss per share from continuing operations was INR 1.68 compared to INR 0.5 a year ago.
For the six months, sales was INR 5,206.7 million compared to INR 15,037.1 million a year ago. Revenue was INR 5,601.1 million compared to INR 15,426 million a year ago. Net loss was INR 1,460 million compared to net income of INR 1,855.9 million a year ago. Basic loss per share from continuing operations was INR 2.4 compared to basic earnings per share from continuing operations of INR 3.05 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.