NMDC Chairman C. S. Verma said the company would exceed the MoU target of 27.4 million tonnes for the current fiscal. “We may end up the year with more than 30 million tonnes both in production and sales,”' he said.
Addressing presspersons, Mr. Verma said production during the third quarter was 7.3 million tonnes, a growth of 36 per cent over the corresponding period in the previous year. Sales were 7.34 million tonnes, up by 38 per cent more than a year ago. The demand for iron ore from the domestic steel makers was on the rise in recent times, he said. The company was increasing its iron ore capacity to 48 million tonnes from 32 million tonnes, he added. The expaned capacity would be gradually commissioned from June and completed by December this year.
NMDC posted a 21 per cent rise in net profit at Rs.1,567 crore for the third quarter ended December 31, 2013, aided by higher sales. The company reported a net profit of Rs.1,293 crore in the October-December quarter of the previous fiscal. Turnover rose 38 per cent to Rs.2,823 crore on higher sales of iron ore, which stood at 7.34 million tonnes during the quarter.
