KIOCL Ltd Achieves Stellar Performance In Q1

-

KIOCL Limited, a CPSU under the ministry of steel reported a 139% increase in revenue from operations at ₹1042.05 crores and profit before tax (PBT) of ₹295.22 crores and profit after tax (PAT) of ₹215.92 crores for the first quarter of FY 2021-22. The board of directors of the company approved the un-audited financial results for the first quarter ended on June 30 in its meeting held through video conference.          

The company reported 18% higher pellet production at 6.03Lakh tonnes compared to 5.11 lakh tonnes in the first quarter of the previous year. The total revenue earned is ₹1059.50 crores as against ₹460.58 crores, up by 130%. The profit before tax is ₹295.22 crores as against ₹18.97 crores, up by 1456 %. The profit after tax at ₹215.92 crores is up by 1696% as against ₹12.02 crores. The company achieved pellet production of 6.03 lakh tonnes as against 5.11 lakh tonnes in the previous FY, up by18%

Swapan Kumar Gorai, CMD, KIOCL Ltd
The company dispatched 6.31 lakh tonnes of pellet as against 5.68 lakh tonnes in the previous FY, up by 11%. The total dispatch of  6.31 lakh tonnes of pellets was in the export market. Swapan Kumar Gorai, CMD cum director (finance), KIOCL Ltd said that despite prolonged lockdown due to the second wave of COVID-19 during the quarter of April–June 2021, KIOCL Ltd was able to maintain its normal operation by reorganizing its resources effectively in achieving consistent growth. 

The pellet plant operations and mineral exploration activities continued at their optimum level after enforcing strict preventive measures against the Covid-19 pandemic. He also stated that the high profitability was due to sustained high price realization of its pellet in the export market.

Comments

Post a Comment

Popular posts from this blog

Dr Prabhu Set To Score A 'Perfect 10' As Dean Of KMC, Mangaluru

-
Image
He was the first-ever alumnus to become the Dean of Kasturba Medical College (KMC), Mangaluru on December 1, 2011. A little less than a decade to that date and come June 1, Dr  M Venkataraya Prabhu will set a record of sorts to excel all his predecessors – most of whom were his own teachers – to become the longest-serving Dean in the history of KMC, Mangaluru. In 2011, little did Dr Prabhu know that he would emulate his illustrious teachers. June 1 will Dr Prabhu exceed the previous record of late Prof KP Ganesan (9-1/2-years). In reaching here, Dr Prabhu has crossed the  6-year stint by Prof M V Chari,  7-years of Prof M P Pai, 7-1/2-years of Prof  B M Hegde, and 8-1/2 years of Prof GD Veliath, all of whom he reveres. Dr M Venkataraya Prabhu, Dean, KMC, Mangaluru Attributing the greatness and reputation that the college enjoys today to these illustrious teachers, Dr Prabhu also a ttributes his present stature to the founder of KMC Late Dr TMA Pai from whom he received a baptism by fir
Read more

MAHE student team wins MHRD's National Innovation Contest (NIC) 2020

-
Image
Dr Mahima Mishra and her team have bagged the prestigious National Innovation Contest (NIC) 2020 conducted by the ministry of education.  Dr Mahima Mishra from Manipal College of Dental Sciences (MCODS) and her team secured the finalist position and won the contest. After this phenomenal achievement, Dr Mahima is now the Innovation Ambassador and received recognition at the regional and national levels by MHRD’s Innovation Cell.  MHRD’s innovation cell on May 19 declared 127 teams as winners/finalists of the National Innovation Contest 2020. MHRD's NIC 2020 aims to provide a 360-degree cycle of learning and helps the student to understand the process of innovation in a start-up and helps to identify real-time problem along with ideation to building a business model and finally entering the phase of enterprise development in a time of one year.  Dr Mahima Mishra This contest was announced in July 2020 and 9000+ participants from 900+ IIC Institutes in India participated in the event
Read more

Skymet Predicts Onset Date Of Southwest Monsoon 2021

-
Image
Skymet, India’s leading weather forecasting and agriculture risk solutions company has released its monsoon forecast for 2021. Skymet expects the upcoming monsoon to be ‘healthy normal’ to the tune of 103% (with an error margin of +/- 5%) of the long period average (LPA) of 880.6mm for the 4-month period from June to September. This would make it 3rd consecutive year of normal or above-normal monsoon. Now, Skymet has released its monsoon onset date for 2021. Skymet expects the onset to be around the normal date. Based on the data from 1961-2019, the normal date of onset over the Indian mainland is june 1 with a standard deviation of one week.  The onset of Southwest Monsoon over Kerala is largely influenced by the oceanic conditions, both in the Arabian Sea and Bay of Bengal. Likely cyclone formation in the Arabian Sea will be consequential for the advance of monsoon stream over Indian waters.  However, tropical storm 'Tauktae' will vacate the Indian region by May 22 Following
Read more