KIOCL, which had closed yesterday at Rs.297.30, opened today morning at Rs.304.80 and went up further to hit a new high at Rs.314. It has come off the high now and is trading at Rs.303 levels.

The PSU reported a very good set of earnings for Q1Fy22:

• Total Revenue earned is Rs. 1059.50 crores as against Rs. 460.58 crores, up by 180%
• Profit before Tax Rs. 295.22 crores as against Rs.18.97 crores, up by 1456 %
• Profit after Tax Rs.215.92 crores against Rs.12.02 crores, up by 1696 %.
• Pellet Production achieved 6.03 Lakh tons as against 5.11 Lakh tons of previous FY, up by 18%
• Dispatches 6.31 Lakh tons as against 5.68 Lakh tons of previous FY, up by 11%
• Total dispatch of 6.31 Lakh tons of Pellets were in export market

The high profitability was due to sustained high price realization of its pellet in export market.