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Kirloskar Ferrous gains after blast furnace at Karnataka-based plant resumes operations

Kirloskar Ferrous Industries rose 1.80% to Rs 192.55 after the company informed about the resumption of operations of mini blast furnace-II at Koppal plant.

July 05, 2022 1:46 IST | capital market
In an exchange filing made after market hours yesterday, the company said that the upgradation of the mini blast furnace-II (MBF-II) of the company situated at Koppal plant, Karnataka, has been completed and the operations of MBF-II have resumed from 4 July 2022. After upgrade of MBF-II, the manufacturing capacity of pig iron in respect of MBF-II has increased from 1,80,000 metric tonne per annum to 2, 17,600 metric tonne per annum and consequently, total manufacturing capacity of pig iron at company level has increased to 6,09,000 metric tonne per annum. Kirloskar Ferrous Industries is a pig iron manufacturer in India and producer of grey iron castings. The company reported 51.78% decline in net profit to Rs 65.26 crore on a 20.28% rise in sales to Rs 900.56 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market - Live News

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