SHIVAMOGGA: The Visvesvaraya Iron and Steel Plant in Bhadravathi has recorded a profit for the third consecutive month, signalling an improvement in the financial performance of the loss-making unit, Union Steel Minister HD Kumaraswamy said.
The plant recorded a net profit of Rs 33 lakh in July, Rs 1.71 crore in August and Rs 1.96 crore in September, he stated in a press release. He attributed the improvement to reforms undertaken after he assumed charge as Union steel minister, continued monitoring and frequent visits to the plant. The recent performance is encouraging and reflects the commitment and collective effort of the workforce, he stated.
VISL’s net revenue rose to Rs 51.87 crore in September, compared with Rs 27.48 crore in the same period last year. The plant recorded a net loss of Rs 3.78 crore in September 2025. The unit’s cumulative net loss through September 2026 stood at Rs 2.03 crore, a substantial improvement from the Rs 22.77 crore loss recorded during the corresponding period last year.
Kumaraswamy said the improvement of over Rs 20 crore demonstrated the progress made in strengthening the plant’s financial position. “It reflects the commitment and hard work of our workforce. I congratulate our workers and the entire plant team for this encouraging performance,” Kumaraswamy said.
He urged VISL workers to maintain the momentum and continue efforts to improve operational efficiency and build a stronger and more sustainable future for the plant.