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Hot Pursuit News

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(18 Jul 2024, 11:21)

Lloyds Metals edges higher after iron ore production rises over 15% YoY in Q1

Lloyds Metals and Energy added 1.10% to Rs 741.30 after the company reported quarterly iron ore production of 4 million tonnes (MT) for Q1 FY25, which is higher by 5.26% as compared with the production volume of 3.8 MT recorded in Q1 FY24.

The company's direct reduced iron (DRI) production for the first quarter of FY25 was 76,704 tonnes, up 15.74% YoY. DRI production for the same period last year was 66,274 tonnes.

Lloyds Metals and Energy is a metals and mining company engaged in mining iron ore, manufacturing sponge iron and generating power.

The company had reported 2.93% rise in consolidated net profit to Rs 276.91 crore on a 77.38% increase in sales to Rs 1,554.29 crore in Q4 FY24 as compared with Q4 FY23.


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