Indian steel and pellet producer Godavari Power and Ispat Limited (GIPL) has achieved a consolidated net profit of INR 1447.80 million ($16.73 million) in the third quarter (October-December) of the fiscal year 2024-25, a decline of 36.85 percent year on year, according to a company regulatory filing on Monday, February 17.
The company reported revenue from operations at INR 12,976.00 million ($150.01 million), a decline of 0.86 percent year on year.
“GPIL has delivered a consistent performance over the past nine months, despite experiencing lower realizations. Quarterly, our financial results reflect the effects of decreased production volumes for iron ore and pellets, as well as lower sales realizations for finished products. As we approach the end of 2024-25, we remain hopeful about restoring our pellet production and sales to previous levels.” GPIL chairman B L Agarwal said.