KIOCL Limited, a NSE, BSE & MSEI listed CPSU under Ministry of Steel, declared Q3 financial results for the year 2020-21 in its Board Meeting held on 09.02.2021 at Bengaluru through Video-conferencing. The Board of Directors of the Company approved unaudited financial results for the 3rd Quarter and 9 Months ended 31st Dec. 2020.
The highlights of 3rd Quarter along with cumulative performance of FY 2020-21 are as stated below:
Pellet Production &despatches in Q3, 0.489 Million Tons & 0.522 million tons and cumulative Pellet Production 1.49 Million Ton, Despatch 1.64 Million Tons.
Total cumulative revenue is Rs.1444 Crores against the target of Rs. 1446 crores.
PBT of Rs.86 crores for Q3, 147 Crores cumulative & PAT of Rs.64 crores for Q3, Rs.107 Crores cumulative.
Shri MV Subba Rao, CMD, KIOCL stated that during December 2020 the sea borne iron market depicted positively due to good demand from Chinese steel mills, lower port stock and tight supply criteria.
Further he added that strong Pellet demand in overseas market due to higher steel production in China coupled with sinter restriction and high Coke price, robust Domestic demand due to shortage of Iron ore and higher steel prices resulted in encouraging financial performance of the Company.
Moneycontrol.com reports that after Net Sales +14.23% (YOY over 2019), Quarterly Net Profit +1843% (YOY over 2019), EBIT +1336% (YOY over 2019), and Earning per share up at Rs. 1.02 in Dec 2020, from Rs. 0.06 in Dec 2019, KIOCL shares were trading at 134.2 on Feb 08, 2021 on the NSE and have given 16.49% return over the past 6 months and 16.29% return over the past 12 months.