India’s Ferro Alloy Corporation Limited (Facor Limited) has reported a net loss of INR 65.20 million ($780,000) in the third quarter (October-December) of the fiscal year 2023-24, an increase of 113.69 percent from the loss reported in the corresponding quarter of the previous fiscal year, according to a company statement on Wednesday, February 28.
The company achieved total revenue of INR 7.1 billion ($86.60 million) during the quarter, a decline of 91.45 million year on year, the company reported.
Facor Limited operates a ferrochrome plant of 142,000 mt per year capacity in the eastern state of Odisha, along with operating a chrome ore mine with an annual capacity of 320,000 mt.