KIOCL Limited, an Indian steel manufacturer under the Ministry of Steel, returned to profitability in the third quarter of the fiscal year 2026, reporting a net profit of Rs 18.13 crores, which reversed the Rs 47.79 crores loss recorded in the same quarter a year ago and the Rs 17.16 crores loss from the previous quarter.

While total operating income for the period fell by 11.57% year on year to Rs 159.65 crores, this state-run enterprise improved its nine-month outlook, narrowing its total loss to Rs 36.82 crores from Rs 167.72 crores in the corresponding period in the fiscal 2025.

The Board of Directors approved these financial results on February 12, notably functioning without an Audit Committee because of a lack of independent directors.