India's Minerals Corp. NMDC Q2 Net Grows 42% to Rs 1,963.1 cr

2011-11-01

Oct. 31, 2011 - State-owned NMDC today posted a net profit of Rs 1,963.1 crore for the quarter ended September 30, 2011, up 42 per cent over same period last fiscal.
Total Income has increased to Rs 3,565.2 crore for the quarter from Rs 2,705.9 crore for the quarter ended September 30, 2010.
The Board of Directors which met here today declared an interim dividend of Rs 1 for equity share for the fiscal.
While revenues from the sales of iron ore stood at Rs 3,053 crore, other minerals and services contributed Rs 21.21 crore.
The Board said that the process has been initiated to sell the plant and machinery of Silica Sand project of Lalapur and UPFO plant Visakhapatnam.
Incorporated in 1958, NMDC is under the administrative control of the Ministry of Steel, Government of India. Since inception, the company is involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.