NMDC Q4 net rises 33.94%
Source: IRIS | 30 May, 2014, 07.04PM
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Rating: NAN / 5 stars. |
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NMDC said a substantial rise in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 33.94% to Rs 19,621.50 million from Rs 14,649.50 million in the same quarter previous year. Net sales for the quarter rose 21.23% to Rs 38,844.90 million, compared with Rs 32,043 million for the prior year period.
Speaking on the occasion, NMDC chairman Narendra Kothari said, ''NMDC's long cherished dream of touching 30 MT production of Iron Ore has been fulfilled this year. NMDC’s role in providing raw material security for the steel industry has strengthened further. Though NMDC is producing around 22% of the country's iron ore production, it would be our endeavour to touch 50% of the country's iron ore production in the near future.'' Shares of the company declined Rs 1.25, or 0.73%, to settle at Rs 170.20. The total volume of shares traded was 226,771 at the BSE (Friday).
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