India’s Lloyds Metal and Energy Limited (LMEL) achieved a consolidated net profit of INR 10.9 billion ($120.6 million) in the third quarter (October-December) of the fiscal year 2025-26, a rise of 181 percent over the corresponding quarter of the previous fiscal year, according to a company statement on Wednesday, February 4.
The company reported total revenues of INR 5.15 trillion ($57.07 billion) during the quarter, a rise of 204 percent year on year.
The company said that substantial revenue growth indicated strong demand and successful market penetration, and, while profit growth has been significant, it slightly lags behind revenue growth on a percentage basis, suggesting potential cost pressures and reinvestment, but overall profitability has remained strong.
The company reported that its board has approved the development of a second slurry pipeline from Hedri to a port in Maharashtra to be implemented in two phases, entailing an investment of $885 million.
Also, the board has approved expansion of its Konsari iron ore mine to 5 million mt per year from 4 million mt per year through debottlenecking at an investment of $17 million.
