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Kudremukh Iron Ore Company Limited (KIOCL) formed in the year 1976 has posted a record net profit (after tax) of Rs. 230.56 crores (upto September, 2004) during the current financial year. Earlier, the Company had earned a net profit of just Rs.51.32 crores in the similar period of the previous year 2003-04. Profit Before Tax (PBT) of Rs.401.07 crores and Profit After Tax (PAT) of Rs.230.56 crores registered during the first half of 2004-05, are the highest ever PBT and PAT recorded in any first half year so far.
The Company recorded highest ever half yearly turnover of Rs.763.13 crores in the first half of 2004-05 against a target of Rs.397.56 crores. During the first half year of the current fiscal (upto September 2004) the Company produced 2.280 million tonnes of Iron Ore Concentrate and 1.932 million tonne of Pellets representing 134 per cent and 105 per cent of the targets respectively. Exports during the period were 0.228 million tonnes of Iron Ore Concentrate and 1.956 million tonnes of Pellets.
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