KIOCL'S Q-1 PERFORMANCE SHOWS GROWTH

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Kudremukh Iron Ore Company Limited (KIOCL), a public sector undertaking of the Steel Ministry has earned a net profit of Rs. 26.69 crore during the first quarter of this financial year against Rs. 21.38 crore during the same period last year. Its gross margin during the period has been Rs. 58.3 crore against Rs. 41.76 crore in the first quarter of 2002-03. During the month of June 2003 it earned a net profit of Rs. 11.57 crore as against Rs. 5.92 crore during June 2002. Gross margin during the month was Rs. 25.26 crore against Rs.12.39 crore during the same month of the previous year.

The company produced 13.35 lakh tonnes of concentrate against the target of 12.9 lakh tonnes and 9.58 lakh tonnes of pellets against a target of 8.95 lakh tonnes during April to June of this financial year. It produced 12.36 lakh tonnes of concentrate and 9.49 lakh tonnes of pellets during the first three months of the last financial year. KIOCL has sold pellets worth Rs. 154 crore and concentrate worth Rs. 26 crore during these three months. During the month of June 2003 the company has sold pellets worth Rs. 55.7 crore and concentrate worth Rs. 10.75 crore.