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India's NMDC Achieved Large Increases In Sales And Profit For Apr - Dec 2011
= Net profit for nine months period at Rs 5,623.11 crore =
Indian state-owned mining company National Mineral Development Corporation Limited (NMDC) announced Jan 31 its unaudited financial results of the third quarter 2011 - 2012 (October - December 2011). According to the report, net sales were Rs 2,821.95 crore (up 7.7% from the same quarter the previous year), profit from operations before other income, interest & exceptional items was Rs 2,226.25 crore (up 12.1%, same) and net profit for the period was Rs 1,858.81 crore (up 22.4%, same), achieving increases both in sales and profit.

This resulted in double-digit growth for April - December 2011 as net sales were Rs 8,666.88 crore (up 14.1% from the same period the previous year), profit from operations was Rs 6,850.08 crore (up 17.6%, same) and net profit for the period was Rs 5,623.11 crore (up 27.8%, same).

NMDC approved payment of second interim dividend for Rs 1 per share, Rs 2 per share in total together with the first half year.

During the period, iron ore exports were banned in Karnataka which affected NMDC's iron ore production. Besides, iron ore transportation was interrupted due to railway occupation by insurgent group this year.
last modified : Tue 07 Feb, 2012 [11:39]
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