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KIOCL Limited announces Q4 & FY19 results

Steel News - Published on Fri, 24 May 2019

Image Source: Wikipedia
The Board of KIOCL Limited has approved the Financial Results for the 4th quarter and for the financial year 2018-19 on 21.05.2019 at New Delhi. During the year, the Company reported total revenue of INR 2012.68 Crores with profit before tax of Rs. 184.12 Crores, up by 13% & 114% respectively.
 
The highlights of performance are summarised as under
 
- Pellet Production 2.24 million tonnes & dispatch 2.21 million tonne, surpassing MoU target
 
- Turnover from Operations INR 1887.71 crores shot up by 15%, highest since inception of the company
 
- Profit before Tax INR 184.12 crores, up by 114%
 
- Profit after Tax INR 111.86 crores, up by 37%
 
- Export of Pellet 1.52 million tonnes, highest since closure of captive mine (end of 2005) at Kudremukh
 
Shri MV Subba Rao, CMD, KIOCL informed that the Pellet Plant continued to perform well due to the initiatives like improved production of Pellet with internationally acclaimed physical & chemical specifications, High Sales, Volume along with better capacity utilization, entering into new International Markets (such as Japan, South Korea, Vietnam, Malaysia, Chile, UK etc), 100% utilization of coastal sea route for incoming and outgoing movements, excellent treasury management and implementation of stringent austerity measures etc., thereby reducing input cost and increasing the realisation.
 
He also informed that in FY 18-19, KIOCL produced 2.24 million tonnes and dispatched 2.21 million tonnes of pellets out of which 1.52 million tonnes of pellets were exported during the year.

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Posted By : Ratan Singh on Fri, 24 May 2019
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