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Kerala Minerals and Metals (KMML), a PSU that claims the best profit record in the State, has declared a dividend of ₹2.47 crore to the State government.
Febi Varghese, Managing Director, KMML, handed over a cheque to Chief Minister Pinarayi Vijayan at a function held recently at the latter’s office in the presence of EP Jayarajan, the Minister for Industries.
KMML is an integrated titanium dioxide manufacturing company based in neighbouring Kollam district and its operations comprise mining, mineral separation, and production of synthetic rutile and pigment.
Besides the rutile-grade titanium dioxide pigment, it also produces ilmenite, rutile, zircon, sillimanite, and synthetic rutile.
Speaking to BusinessLine , Varghese said that the company clocked a net profit of ₹163.29 crore during FY19 on a turnover of ₹829.89 crore.
This, however, pales in significance to the previous year’s (FY18) performance of ₹181.11 crore in net profit on a turnover of ₹740.58 crore.
This also represented a steep climb in profitability from a net profit of ₹3.24 crore on a turnover of ₹653.91 crore in 2015-16 and ₹40.37 crore on ₹727.04 crore of 2016-17.
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