“NMDC collective would be committed to produce 48 MT iron ore production by 2014-15 and with increase of demand of Iron ore from the domestic steel industry the company targets to produce 27.4 million tonnes of iron ore during the current fiscal”, NMDC Chairman Mr. C S Verma told media.
NMDC Q4(Jan-Mar) FY12-13 – Best ever quarter in terms of production and sales
Iron ore production and sales improved Y-o-Y at a total of 9.57 MnT (Up by 37.5%) and 8.24 MnT (Up by 28%) respectively.
Average Iron ore prices dropped by 8% Y-o-Y to Rs 3,660/MT.
Chairman also said that prices of the raw material came down both for NMDC as well as in international market during the quarter. The company had also made a provision of Rs 337 crore for development of infrastructure in the areas where its mines operate, as per the directive of the apex court. The production and sales figures were accomplished in spite of the slurry pipeline not being available at all for evacuation.
Net profit falls 10.79% to Rs 1,465 crore from 1,642.28 crore in Q4 FY 11-12.
Total revenue went up by 23.46% to Rs 3,204.25 crore as compared to Rs 2,594.58 crore in Q4 FY 11-12.
Total expenses were at 1493.13 crore, double of 652.85 crore.
NMDC FY 12-13 Iron ore production falls by 1% to 27.184 MT.
And sales down by 4% to 26.274 MT.
Average prices weakened by 2% Y-o-Y to Rs 4,019/MT i.e. from Rs 4,090/MT.
Annual profit drops by 13% to Rs 6342.37 crore from 7265.39 in 2011-12.
Its turnover comes down by 5% to Rs 10,704 crore from 11,262 crore in 2011-12.
Weak buying interest from customers, continuous rainfall and evacuation issues of the raw material in Bailadila region (Chhattisgarh) in the second and third quarter of FY 12-13 impacted turnover.
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