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KIOCL profit in Q3 up
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The KIOCL plant in Mangaluru.
KIOCL Limited, a public sector undertaking under the Union Ministry of Steel, posted a profit after tax of ₹63.82 crore during the third quarter of 2020-21 as against a loss of ₹3.66 crore in the corresponding period of the last fiscal.
The income from operations stood at ₹546.28 crore during Q3 of 2020-21 as against ₹478.24 crore in Q3 of 2019-20, according to its Chairman and Managing Director M.V. Subba Rao.
He said in a release on Wednesday that the sea-borne iron market depicted positively during December 2020 due to good demand from Chinese steel mills and lower port stock.
Jewel of Andhra Pradesh , CM Reddy writes to PM over privatization of Vizag steel plant Jewel of Andhra Pradesh , CM Reddy writes to PM over privatization of Vizag steel plant
In his letter to PM Modi, Andhra CM YS Jagan Mohan Reddy has suggested measures to revive the Rashtriya Ispat Nigam Limited steel plant in Vishakhapatnam (Vizag).
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UPDATED: February 7, 2021 03:38 IST
File photo of Rashtriya Ispat Nigam Limited steel plant in Andhra s Vishakhapatnam (Picture Courtesy: Twitter @RINL VSP)
Facing protest from the opposition, Andhra Pradesh CM YS Jagan Mohan Reddy has written a letter to the Prime Minister Narendra Modi, requesting the Centre to reconsider its plan of disinvestment of Vizag-based Rashtriya Ispat Nigam Limited.