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KIOCL's net loss increased in
FY 2024-25 because of operational challenges.
The company looks to restructuring and cost-containment measures.
Weakness in the global pellet market contributed to financial burden.
KIOCL Limited, a central government public sector undertaking under the Ministry of Steel, has registered a huge increase in its net loss for FY 2024-25 in official filings. The firm struggled with challenging market situations, volatile iron ore prices, and reduced capacity use at its pellet plant operations, which led to the widened losses.
Although the actual loss amounts haven't been made public as yet, sources indicate the decline in year-on-year operational margins and faltering demand from domestic and export markets have negatively affected the financial performance of the company. The KIOCL had already registered a net loss in the last financial year with lower offtake and increasing production costs.
To steer around these challenges, KIOCL is said to be contemplating strategic restructuring, cost optimization of operations, and product mix diversification in order to restore financial stability. The firm is also negotiating a revival of mining operations and capacity utilization improvement at its Mangalore pellet plant.
Industry analysts think that the continued global market uncertainty and weak trends for iron ore pellet demand have complicated things for producers such as KIOCL, particularly those with few mining assets.
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