Bhadravathi: Union Minister of Heavy Industries and Steel H D Kumaraswamy has claimed that the loss-making Visvesvaraya Iron and Steel Plant (VISP), a unit of Steel Authority of India Limited, functioning in Bhadravathi …

Bhadravathi: Union Minister of Heavy Industries and Steel H D Kumaraswamy has claimed that the loss-making Visvesvaraya Iron and Steel Plant (VISP), a unit of Steel Authority of India Limited, functioning in Bhadravathi town, is moving on the path of profit. In a press note, the minister stated that the plant has staged a remarkable comeback maintaining a profitable trajectory for three months consecutively. “The improved financial performance reflects the relentless effort, commitment, and collective resolve of the workforce,” the statement read. “Under the leadership of Prime Minister Narendra Modi, the Central Government remains consistently focused on strengthening India’s steel sector and its associated institutions. Against this backdrop, he noted that the factory’s recent performance is an encouraging development, with the unit recording a net profit for three consecutive months.”Rs 780 crore earmarked to upgrade testing agencies, says Kumaraswamy at ICAT eventFurnishing details, he explained that the factory 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. The Minister stated that this streak of profitable months indicates sustained positive growth in the factory’s financial performance.This improvement was particularly evident in September. The factory’s net revenue rose to Rs 51.87 crore in September 2026, compared to Rs 27.48 crore during the same period in 2025. Furthermore, the Minister expressed satisfaction that, in contrast to the loss of Rs 3.78 crore recorded in September 2025, the unit posted a net profit of Rs 1.96 crore in September of this year.Significant improvement has also been observed in the factory’s overall financial health. For the period ending September 2026, the unit’s net loss stood at Rs 2.03 crore; He noted that this indicates an improvement of over Rs 20 crore, considering the loss stood at Rs 22.77 crore during the same period last year.The Minister commended the workers and the entire factory team for the commitment, discipline, and sustained efforts they demonstrated in strengthening the unit’s performance. The progress witnessed at the factory reflects the dedication and hard work of our workforce. “I congratulate our workers and the factory team for this encouraging performance.”He emphasised the need to maintain this positive momentum through continuous efforts to strengthen operational performance and build a robust, sustainable future for the factory.

Source: Deccan Herald