Financial Daily from THE HINDU group of publications
Wednesday, Aug 03, 2005
Financial Daily from THE HINDU group of publications Wednesday, Aug 03, 2005 |
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Corporate
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Announcements NMDC declares record dividend Our Bureau
Hyderabad , Aug 2 NATIONAL Mineral Development Corporation Ltd (NMDC) has declared a 114.5 per cent dividend for the year ended March 31. Consequently, the Central Government, which holds 98.38 per cent equity, will receive Rs 148.87 crore. In February 2005, NMDC had paid an interim dividend of 38.5 per cent. The Chairman and Managing Director of NMDC, Mr Ramesh Kumar, said, "first time in the history of NMDC that it has declared such a huge dividend, reflecting a quantum jump from the previous best of 35 per cent paid for the year 2003-04." Net sales during the quarter was up from Rs 471.23 crore during corresponding quarter last year to Rs 574.19 crore in the current year reflecting an increase of 21.85 per cent. The profit before tax went up from Rs 258.39 crore (Q1 last year) to Rs 357.42 crore (an increase of 38.33 per cent).
Production of iron ore during the quarter was 5.28 million tonnes as against 4.7 million tonnes over corresponding quarter last year reflecting an increase of 12.34 per cent. It mined 17,980 carats of diamonds as against 15,151 carats (an increase of 18.67 per cent).
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