NMDC ltd's production of iron ore during the 4th quarter stood at 11.35 million tonnes (MT) while registering an increase of 9% over the corresponding period last year (CPlY), a NMDC press release informed.
The sales of iron ore was 10.54 MT which is about 8% more than that of the CPlY.
NMDC’s turnover during the 4th quarter is Rs 3,883 crore, representing an increase of 35% in turnover of CPlY.
NMDC has recorded profit before tax (PBT) of Rs 1,992 crore and profit after tax (PAT) of Rs 1,106 crore which is up by around 61% & 116% respectively over 4th quarter of CPlY.
The company for the year 2017-18 has registered a growth of 5% in production and 1% in sales of iron ore over the corresponding period last year (2016-17).
NMDC has produced 35.58 million tonnes and sold 36.07 million tonnes of iron ore during 2017-18 against production of 34.01 million tonnes and sales of 35.62 million tonnes in corresponding period last year.
The company has posted a turnover of Rs 11,615 crore, representing an increase of 32% in turnover of CPlY.
NMDC has recorded profit before tax (PBT) of Rs 6,179 crore and profit after tax (PAT) of Rs 3,806 crore in which is up by around 44% & 47% respectively over CPlY.
The 4th quarter results for 2017-18 were approved by the Board of Directors of the Company under the Chairmanship of NMDC CMD N. Baijendra Kumar, IAS in its meeting held on May 28, 2018.
Congratulating all the employees and Board members Kumar said that their inspired efforts during NMDC’s Diamond Jubilee Year would infuse a level of confidence among stakeholders.
He emphasised on NMDC’s belief in triple bottom line principle of people, planet and profit through deliberate inclusion of public interest into its corporate decision making.
Notably, the company is targetting to achieve 10 million tonnes of iron ore production per annum from each of its mines in Chhattisgarh by 2024-25, official sources informed.
It has also sought 7.116 hectares forest land diversion for its iron ore concentrate pipeline in Dantewada district of Bastar, they informed.
Notably, NMDC will also be seeking Right of Use (ROU) / Right of Way (ROW) permission for developing a land corridor for its Slurry Pipeline project from Bailadila to Nagarnar in Bastar region of Chhattisgarh, officials informed.
NMDC, which is in the process of laying a 15 Million Tonnes Per Annum (MTPA) slurry pipeline is executing the project in two phases.
The first phase is being executed from Bacheli to Nagarnar in Bastar.