Indian government-run iron ore pellet producer KIOCL Limited has reported a net loss of INR 429.10 million ($5.14 million) in the fourth quarter (January-March) of the fiscal year 2023-24, against a net profit of INR 822.10 million ($9.85 million) in the corresponding quarter of the previous fiscal year, according to a company statement on Thursday, May 30.
The company achieved total sales revenue of INR 3.72 billion ($44.61 million) in the given quarter, a decline of 49.35 percent year on year.
For the full fiscal year 2023-24, KIOCL reported a loss of INR 833.10 million ($9.98 million), lower than the net loss of INR 976.70 million ($11.71 million) in the previous fiscal year.