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KIOCL Ltd. profit up by 4.06%, after tax

May 29th, 2022 11:59 am | By | Category: LATEST NEWS

T. Saminathan
CMD & Director (Commercial) [Addl. Charge]

KIOCL Ltd., a Union Government undertaking, recorded a profit after tax of ₹313.41 crore during 2021-22 as against ₹301.17 crore in 2020-21, registering a growth of 4.06 %.

The total revenue of the company increased to ₹3,006.45 crore during 2021-22 as against ₹2,376.44 crore in 2020-21, registering a growth of 26.51 %.

A KIOCL Ltd. release quoting T. Saminathan, Chairman and Managing Director of the company as saying, said here on Wednesday that the company continued its march in ramping up its financial performance and reported the highest turnover largely due to better sales realisation and strong growth as well as adoption of cost control measures during 2021-22.

He said that the pellet plant here continued to perform better with many initiatives taken by the company. The initiatives included the effective utilisation of coastal transportation, indigenisation of various raw material/spares, proper inventory management system. This helped in reducing input cost and increasing realisation, he said.

During 2021-22, KIOCL Ltd. produced 2.03 million tonnes of pellets and dispatched 2.07 million tonnes of pellets. The dispatches included 2.03 million tonnes of exports.

Saminathan said that this also helped KIOCL expand its exports to Austria, Finland, Poland, Switzerland, Iran, Japan, South Korea and Oman, in addition to the regular international markets such as China, Indonesia, Malaysia, and Brazil.

The company dispatched the highest quantity of 3.80 lakh tonnes of pellets in March 2022, he said.

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