KIOCL Q4FY21 results: Net profit rises to Rs 301.17 cr

28 May 2021 CW Team

Kudremukh Iron Ore Company (KIOCL), a mini ratna category-1 company under the Ministry of Steel, declared the financial results for the fourth quarter of FY21 and for FY20.

KIOCL resumed its journey in ramping up the financial performance and recorded the highest turnover mainly due to better sales realisation and strong growth in Q4 during FY 2020-21.

During the FY 2020-21 KIOCL has registered a 593% rise in the net profit of Rs 301.17 crore against Rs 43.48 crore that were reported in FY 2019-20.

Steel public sector undertaking (PSU) earned Rs 2,477.83 crore as total revenue against Rs 2,056.53 crore, which was earned a previous year in FY 2019-20, therefore recording a growth of 20.49%. The company has also recorded a 544% growth in profit before tax of Rs 410.23 crore as against Rs 63.68 crore in FY 2019-20.

During the same time, the KIOCL has reached the pellet production of 2.21 mt as against 2.37 mt manufactured in the prior fiscal year, and dispatches numbers have also reached 2.311 mt as against 2.356 mt in the prior fiscal year. Export of Pellets 1.84 mt and Domestic sales 0.46 mt individually.

During the Q4 FY21, the KIOCL recorded a net profit of Rs 194 crore after tax as against Rs 26.44 crore, income from operations Rs 939.71 crore as against Rs 499.75 crore earned during FY 2019-20.

MV Subba Rao CMD of KIOCL said that the company’s fiscal performance for FY21 was great due to high sales realisation and the adoption of cost control measures. Further, he added that the company is expected to achieve a Memorandum of Understanding (MOU) ratings of above 80%.

Image Source

Also read: JSW Steel Q4 results: Net profit jumps to Rs 4,191 crore

Also read: L&T Q4 results: Consolidated net profit up 3% by Rs 3,293 cr

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..