Hot Pursuit     13-Jul-23
KIOCL soars on restarting operations at Mangalore-based pellet plant
KIOCL jumped 6.29% to Rs 197.80 after the company announced that the operations of its pellet plant unit located at Mangalore have been restarted with effect from 13 July 2023.

The company had temporarily shut down the operations at the said plant w.e.f. 2 July 2023 to carry out refractory repair work.

KIOCL is a flagship company under the Ministry of Steel, GOI, with Mini Ratna status. It is an export-oriented unit with expertise in iron ore mining, filtration technology and production of high-quality pellets. The company has also ventured into operating and maintenance (O&M) services for steel projects.

The company had reported 57.6% fall in net profit to Rs 82.21 crore on a 35.5% decline in income from operations to Rs 734.74 crore in Q4 FY23 over Q4 FY22.

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