LONDON (Bloomberg) – Aquarius Platinum Ltd., the fourth-biggest platinum producer in the world last year, posted a profit after two prior quarters of losses because costs for diesel and explosives dropped.

Net income was $6.5 million, or two cents a share, in the fiscal third quarter ended March 31, Hamilton, Bermuda-based Aquarius said on Monday in a statement. It posted a $48.6 million loss in the previous three months.

Aquarius did not give figures for a year earlier.

Attributable production of platinum group metals in the third quarter was 97,212 ounces, a decline of 26 percent compared with the previous quarter. Aquarius said diesel costs dropped 29.6 percent from the second quarter while explosives declined 10.5 percent. Sales in the third quarter were $80.5 million.