KIOCL Ltd posts Rs 313.41 cr profit

KIOCL Limited (formerly Kudremukh Iron Ore Company Limited) recorded a profit after tax of Rs 313.41 crore during the financial year 2021-22 as against Rs 301.17 crore last year.

KIOCL Ltd Chairman and Managing Director T Saminathan said KIOCL produced 2.030 Million Tonnes and dispatched 2.072 Million Tonnes of pellets, out of which 2.032 Million Tonnes of pellets were exported during the year.

KIOCL has expanded its exports to European countries Austria, Finland, Poland, Switzerland and also Iran, Japan, South Korea, Oman, in addition to regular international markets in China, Indonesia, Malaysia, Brazil et., besides domestic markets, he said.

He also highlighted that the highest number of shipments and quantities of pellets dispatched was 3.80 lakh MT, in the month of March 2022.

The CMD said that despite the challenges caused by the pandemic, production activities continued uninterrupted with the teamwork of its dedicated employees and guidance from the board and Ministry of Steel.

The board of KIOCL Ltd has recommended a final dividend of Rs 0.79 per equity share, subject to the approval of the shareholders at the annual general meeting, in addition to the interim dividend of Rs 0.98 per equity share already paid.