Kudremukh Iron Ore Company Limited (KIOCL) has presented a dividend cheque of Rs.43.97 crores to Shri Ram Vilas Paswan, Union Minister of Steel, Chemicals and Fertilizers. The cheque was handed over to the Minister by the Chairman-cum-Managing Director, Shri P. Ganesan, here today. Kudremukh Iron Ore Company Limited, a 100% export oriented unit, and an ISO 14001 Company, which has been conferred with a Golden Star Trading House Status paid the dividend to the Government for the financial year 2003-04.
The Steel Minister congratulated CMD, KIOCL on the excellent performance of KIOCL during 2003-04. The year 2003-4 is the twelfth year in succession that the Company has registered profits and paid Dividend. The Turnover for the year 2003-04 was Rs.1029 crores, for the first time crossing the 1000 crore mark and the total Dividend payout was Rs.44.42 crores excluding Dividend Tax of Rs.5.69 crores. The Company produced 5.090 million tones of Iron Ore Concentrate and 3.671 million tones of Pellets during the year 2003-04. Exports were of the order of 1.522 million tones of Concentrate and 3.628 million tones of Pellets.
(Release ID :3500)