KIOCL profit dips to Rs 22 cr

 
It has produced 1.32 million tonnes (MT) of pellets during the year 2008-09 as against the 1.93 MT produced in the previous year, which represents 38 per cent of the capacity utilisation. Likewise, the pig iron production was 0.12 MT during the year 2008-09 as against 0.16 MT for the previous year. The company was forced to lower and stop its production during the second half of the year due to recession.

The sale of pellets was 1.13 MT in 2008-09 as against 1.91 MT in the previous year. Low demand for the company’s products was the main reason for lower production and sales.
Healso said that therecession have clearly been the major factor in India’s economic slowdown.  Domestic demand for steel was adversely impacted by slowdown and, in particular, by the sharp reduction in demand in some of the leading end-user segments of steel which depend on credit financing.

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