KIOCL announces Q3 results
KIOCL has reported good revenue growth for Q3FY18 with operating losses narrowing as well. Revenue grew by 37.5% YoY to INR 442 crore. EBITDA loss stood at INR 7 crore compared with an EBITDA loss of INR 30.5 crore in Q3FY17. Net Profit stood at INR 12.9 crore for Q3FY18.
Production and sale of iron ore pellets stood at 0.635 million tonnes and 0.638 million tonnes respectively in 3QFY18. Growth for production and sales in Q3FY18 stood at 31% and 19% respectively.
Due to improved pricing of pellets and reduction in costs, the pellet plant reported an operating profit of INR4 crore (after a gap of several years).
Production and sale of iron ore pellets stood at 1.7 million tonnes and 1.763 million tonnes respectively in 9MFY18. Growth for production and sales in Q3FY18 stood at 134% and 151% respectively.
Export sales stood at 1.033mn tonnes, an increase of 85% YoY.
Source : Strategic Research Institute, SteelGuru