Kudremukh Iron Ore Company Limited (KIOCL), a public sector undertaking of the Steel Ministry, during the period April-December, 2003, produced 3.548 million tonnes of iron ore concentrate and 2.7 million tonnes of pellets representing 102 and 109 per cent of the respective targets. Exports of concentrate during this period at 1 million tonnes was 99 per cent of the target and pellet exports at 2.67 million tonnes was 107 per cent of the target. The company achieved a net profit after tax of Rs. 116.04 crore during these nine months as against Rs.61.14 crore in the same period last year.
KIOCL achieved the highest monthly turnover of Rs. 121.5 crore during December, 2003 and surpassed the previous high of Rs.103.4 crore achieved in March, 2003. Its cumulative gross margin upto December at Rs. 229.62 crore also surpassed the previous high of Rs. 173.03 crore achieved during the same period last year. Rs.116.04 crore profit after tax during these nine months is also all time high for this period.
The company achieved record pellet production of 3,23,000 tonnes in May, 3,22,000 tonnes in September and 3,26,000 tonnes in October, 2003. First two quarters' production of pellets at 9,57,500 and 9,40,000 tonnes are also the highest production in respective quarters so far.
(Release ID :1261)