Indian government run iron ore pellet producer KIOCL Ltd, formerly known as Kudremukh Iron Ore Company Limited, has reported a net profit of INR 313 crore during the fiscal year 2021-22, up 4% YoY after recording a net profit of INR 194 crore in the January-March 2022 quarter, up 204% QoQ & flat YoY. The total income of the company was recorded at INR 3081 crore in the 2021-22, up 24% YoYKIOCL is setting up of 200,000 tonne Ductile Iron Spun Pipe Plant & 180,000 tonne Coke Oven Plant under backward integration projects at Blast Furnace Unit at Panambur in Mangalore in Karnataka and Union Steel Minister Mr Ram Chandra Prasad Singh had laid the foundation stone for coke oven plant on 20 February 2022.KIOCL had signed with a tripartite agreement with Tauman Engineering Limited for CSIR-CIMFR for setting up of Heat Recovery Coke Oven Plant at a contract price of INR 185 crore.Earlier, in November 2019, Indian Government had given its approval to KIOCL for setting up forward and backward integration projects to the blast furnace unit at Mangalore, with a total outlay of INR 836.90 crore. Of the total outlay, INR 276.17 crore was to be met through reserves of the company and reminders through debt.KIOCL has its head office and administrative activities in Bangalore. It has a pelletization plant in Mangalore and had an iron ore mine in Kudremukh in Chikkamagaluru district of Karnataka. The Kudremukh mine was closed in 2006.
Indian government run iron ore pellet producer KIOCL Ltd, formerly known as Kudremukh Iron Ore Company Limited, has reported a net profit of INR 313 crore during the fiscal year 2021-22, up 4% YoY after recording a net profit of INR 194 crore in the January-March 2022 quarter, up 204% QoQ & flat YoY. The total income of the company was recorded at INR 3081 crore in the 2021-22, up 24% YoYKIOCL is setting up of 200,000 tonne Ductile Iron Spun Pipe Plant & 180,000 tonne Coke Oven Plant under backward integration projects at Blast Furnace Unit at Panambur in Mangalore in Karnataka and Union Steel Minister Mr Ram Chandra Prasad Singh had laid the foundation stone for coke oven plant on 20 February 2022.KIOCL had signed with a tripartite agreement with Tauman Engineering Limited for CSIR-CIMFR for setting up of Heat Recovery Coke Oven Plant at a contract price of INR 185 crore.Earlier, in November 2019, Indian Government had given its approval to KIOCL for setting up forward and backward integration projects to the blast furnace unit at Mangalore, with a total outlay of INR 836.90 crore. Of the total outlay, INR 276.17 crore was to be met through reserves of the company and reminders through debt.KIOCL has its head office and administrative activities in Bangalore. It has a pelletization plant in Mangalore and had an iron ore mine in Kudremukh in Chikkamagaluru district of Karnataka. The Kudremukh mine was closed in 2006.
