KIOCL Achieved 31 Percent Growth in Pellet Production and 400 Percent Increase in EBITDA

KIOCL Achieved 31 Percent Growth in Pellet Production and 400 Percent Increase in EBITDA

New Delhi: KIOCL Limited a NSE & BSE listed Company announced stellar performance for nine months ending December 2017.The Board of Directors today approved the financial results for the Quarter and 9 Months ending December 31, 2017.
 
Backed by strong International demand, Company’s strategy of tolling with miners along with continuous focus on cost reduction and exemption of DBC on railway freight by Indian railways, the Company recorded highest production and dispatches of Pellets since its closure of mines at Kudremukh during FY 18 (Upto December 2017). The Company also achieved highest dispatches of Pellets through export during last five financial years. 
 
Other Highlights for the Quarter and 9 Months Performance
 
Quarterly comparison: Q3FY18 vs. Q3FY17:
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  • The Company produced 0.635 million tons and sold 0.638 million tons of Pellets during the quarter, a growthof31% & 19% respectively over the same period of the previous year. 
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  • The Company clocked an Income from Operations of Rs.442.81 crores against Rs.321.38 crores during the corresponding period of previous year, a growth by 38% over the same period of previous year.
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  • EBITDA higher by 400% on Q-O-Q to Rs.24.03 crores compared to Rs.4.81 crores 
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  • Profit before Tax stood at Rs.17.77 crores compared to Rs.0.76 crores loss during the corresponding quarter of previous year.
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  • Profit after Tax stood at Rs.12.92 crores compared to Rs.0.11 crores loss during the corresponding quarter of previous year.
  • Due to improved selling price and optimization of cost, the Pellet Plant has registered Operating Profit of Rs.4.09 crores after a gap of several years. 
  • Nine Months Results Comparison 9M FY18 vs. 9M FY 17
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  • Recorded highest production and dispatches upto December, 2017, which are all time highest figures achieved upto third quarter in any year after switching over from magnetite to hematite iron ore since January, 2006.
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  • The Company produced 1.700 million tons and sold 1.763 million tons of Pellets during the period, a growth of 134% & 151%over the same period of the previous year. Sales in the exports market stood at 1.033 million tons and in the domestic market stood at 0.731 million tons, a growth 85% and570%on Y-O-Y basis.
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  • Recorded highest dispatch of Pellets through export in last 5 previous financial years.
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  • The Company registered Income from Operations of Rs.1206.70 crores against Rs.424.27 crores during the corresponding period of previous year, a growth by 185% over the same period of previous year.
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  • EBITDA higher by 149% on Y-O-Y to Rs.45.52 crores compared to Rs.18.31 crores 
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  • Profit before Tax stood at Rs.28.21 crores compared to Rs.0.80 crore during the corresponding period of previous year.
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  • Profit after Tax stood at Rs.21.43crores compared to Rs.1.10 crore during the corresponding period of previous year.

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