KIOCL, a flagship company under the Ministry of Steel, Government of India, was formed on 2 April 1976 for mining and beneficiation of low grade iron ore at Kudremukh in Karnataka. As of 30 June 2021, the Government held 99.03% stake in the company.
The companys net profit stood sharply higher at Rs 215.92 crore in Q1 FY22 as compared to Rs 12 crore posted in Q1 FY21. Net sales soared 139% to Rs 1,041.40 crore in Q1 FY22 over Q1 FY21.
Shares of KIOCL fell 2.64% at Rs 264.05 on Wednesday (18 August). The domestic equity market is shut today, 19 August 2021, on account of Muharram.
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