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NMDC Limited has posted a net profit of Rs 1,347.09 crore for the fourth quarter ended March 31, 2015 as against Rs 1,962.14 crore for the corresponding quarter last year.
Total Income has decreased to Rs 2,828.58 crore for the fourth quarter ended March 31, 2015 from Rs 3,884.49 crore for the same period last year.
Narendra Kothari, Chairman and Managing Director of NMDC described the fourth quarter as one of the toughest in the recent times resulting in a sluggish quarter. The fourth quarter performance was impacted due to relative lower output, low prices ruling globally and in domestic market and relatively lower demand.
The company has posted a net profit of Rs 6,421.86 crore and income of Rs 12,356.41 crore for the year ended March 31, 2015 as against a net profit of Rs 6,420.08 crore and total Income of Rs 12,058.20 crore for previous fiscal on a standalone basis.
On a consolidated basis, the NMDC Group posted a profit of Rs 6,401.17 crore and total income of Rs 12,356.41 crore for the year ended March 31, 2015 as against a profit of Rs 6,413.08 crore and income of Rs 12,058.20 crore for the year ended March 31, 2014.
The company has declared higher dividend of 855 per cent for 2014-15 as against 850 per cent for 2013-14.
The iron ore production for the year was slightly up at 30.44 MT as against 30.02 MT. The company plans to up its capex from Rs 3,136 crore last year to Rs 3,500 crore this fiscal.
During the fourth quarter, the iron ore production was lower at 7.94 MT as against 9.96 MT in the same period last year. This was due to disruption in production post- Hudhud cyclone and thereafter its supplies.
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