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KIOCL achieves stellar performance in Q1
Posted On : 2021-08-06 18:03:11( TIMEZONE : IST )
KIOCL Limited, a CPSU under Ministry of Steel, reported 139% increase in Revenue from Operations at Rs. 1042.05 crores and a Profit Before Tax (PBT) of Rs.295.22 crores & Profit After Tax (PAT) of Rs.215.92 crores for the 1st quarter of FY 2021-22.
Board of Directors of the Company, approved the Un-audited Financial Results for the first quarter ended on 30th June 2021, in its meeting, held on 05.08.2021 through Video Conference.
Company reported, 18% higher Pellet Production at 6.03 Lakh Tons, compared to 5.11 Lakh tons in 1% Quarter of the previous year.
Highlights of the Performance:
- Total Revenue earned is Rs. 1059.50 crores as against Rs. 460.58 crores, up by 180%
- Profit before Tax Rs. 295.22 crores as against Rs.18.97 crores, up by 1456 %
- Profit after Tax Rs.215.92 crores against Rs.12.02 crores, up by 1696 %.
- Pellet Production achieved 6.03 Lakh tons as against 5.11 Lakh tons of previous FY, up by 18%
- Dispatches 6.31 Lakh tons as against 5.68 Lakh tons of previous FY, up by 11%
- The total dispatch of 6.31 Lakh tons of Pellets were in export market
Shri Swapan Kumar Gorai, CMD cum Director (Finance), KIOCL Ltd., stated that despite prolonged lockdown due to second wave of COVID-19 during the quarter Apr - June 2021, the Company was able to maintain its normal operation by reorganizing its resources effectively in achieving consistent growth. The Pellet Plant Operations & Mineral Exploration Activities continued at its optimum level after enforcing strict preventive measures against COVID-19 pandemic.
He also stated that the high profitability was due to sustained high price realization of its pellet in export market.
Shares of KIOCL Limited was last trading in BSE at Rs. 297 as compared to the previous close of Rs. 291.2. The total number of shares traded during the day was 40467 in over 2317 trades.
The stock hit an intraday high of Rs. 309.6 and intraday low of 295.75. The net turnover during the day was Rs. 12247214.
