India’s Lloyds Metal and Energy Limited (LMEL) has reported a consolidated net profit of INR 14.19 billion ($149.05 million) for the fourth quarter (January-March) of the fiscal year 2025-26, a rise of 603 percent year on year, according to a company filing on Wednesday, May 6.
The company achieved total sales revenue of INR 59.95 billion ($629.53 million) in the given period, a rise of 407 percent year on year.
The company has also approved a proposal for its wholly-owned subsidiary to acquire an equity stake in an entity in Papua New Guinea for pursuing mining opportunities.
LMEL is engaged in iron ore mining, direct reduced iron (DRI) production and power generation, operating three verticals of sponge iron, mining and power generation in Maharashtra.