VISL posts net profit for third consecutive month, profit of Rs 1.96 crore in September, Union Minister HD Kumaraswamy happy

CH NEWS, SHIVAMOGGA

Bhadravati's Visvesvaraya Iron and Steel Limited (VISL), which was in a constant loss-making state, has now turned a profit. VISL has turned a profit for the third consecutive month. In September, the factory earned a profit of Rs 1.96 crore, Union Minister for Large Industries HD Kumaraswamy said in a statement. The factory has now bounced back after the reforms initiated by Kumaraswamy after he took charge as the Union Steel Minister and his regular visits to the factory. Expressing happiness over this, the Union Minister said that the improved financial performance reflects the continuous efforts, commitment and collective resolve of the workers there. The Union Government, under the leadership of Prime Minister Narendra Modi, is continuously focusing on strengthening the Indian steel sector and its institutions. In this context, the recent performance of the factory is an encouraging development, as the unit has registered a net profit for three consecutive months, he said. The factory has recorded a net profit of Rs 0.33 crore in July 2026, Rs 1.71 crore in August and Rs 1.96 crore in September 2026. These consecutive months of profit indicate a continuous positive growth in the financial performance of the factory. This improvement was particularly noticeable in September. The factory's net income increased to Rs. 51.87 crore in September 2026, as compared to Rs. 27.48 crore in the same period of 2025. Also, the Minister expressed happiness that the unit has recorded a net profit of Rs 1.96 crore in September this year, in contrast to the loss of Rs 3.78 crore recorded in September 2025. There has also been a significant improvement in the overall financial position of the factory. The unit's net loss for the period up to September 2026 was Rs 2.03 crore.