KIOCL Ltd, a central public sector 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 per cent.

The total revenue of the company increased to ₹3,006.45 crore (₹2,376.44 crore), a growth of 26.51 per cent.

Quoting T Saminathan, Chairman and Managing Director of KIOCL Ltd, a statement said KIOCL continued its march in ramping up the financial performance and reported highest turnover largely due to better sales realisation and strong growth as well as adoption of cost control measures during 2021-22.

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

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

Saminathan said 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 the month of March 2022, he said.

Dividend

The statement said that the board of directors of the company has recommended a final dividend of ₹0.79 per equity share of face value of ₹10 each, subject to the approval of the shareholders at the Annual General Meeting, in addition to interim dividend of ₹0.98 per equity share already paid.

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