KIOCL Q2 results, revenue fell by 89%, shares plunges by 2.24%

Iron-ore Company, KIOCL declared their Q2 results with a stiff decline in revenue and a significant increase in losses. The company reported a topline decrease of 96.26% year-over-year, while losses surged by 223.56%, raising concerns among investors.  KIOCL's revenue fell by 89.05%, and losses increased by 36.46%, as compared to the previous year's results.

The company's Earnings Per Share (EPS) for Q2 was reported at Rs -1.14, reflecting a decrease of 225.71% year-over-year, further emphasizing the financial struggles faced by KIOCL.

The operating income also took a hit, down 35.52% from the previous quarter and a staggering 192.02% year-over-year.

The stock performance has also degraded, with a return of just 0.66% over the past week, a decline of 21.37% over the last six months, and a year-to-date return of -8.54%. This trend is likely to raise eyebrows among shareholders and potential investors.

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Currently, KIOCL boasts a market capitalization of Rs 20,462.98 Crores, with a 52-week high of Rs 577.35 and a low of Rs 302.80. 

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