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NMDC has registered a net profit of Rs 1,567 crore for the second quarter ended September 30, 2014 as against Rs 1,318 crore for the corresponding quarter last year, registering a growth of 19 per cent.
The profit for the first half this year was Rs 3482 crore, up 20 per cent over Rs 2891 crore for the same period last year.
The sales income for the second quarter war Rs 3,105 crore against Rs 2,480 crore for the same period last year, registering a growth of 25 per cent. And for the first half, the sales was at Rs 6,582 crore against Rs 5,351 crore same period last year, registering a growth of 23 per cent.
Narendra Kothari, Chairman and Managing Director, said NMDC is on right path to achieve production and sales of iron ore of more than 32 million tonnes for this year. NMDC is determined to achieve production of more than 50 million tonnes by 2018-19 to meet the growing demand of the steel industry.
NMDC said it achieved highest production and sales in any first half of a financial year since inception.
The Board declared interim dividend of 300 per cent.
During the second quarter, NMDC iron ore production touched 64.46 lakh tonnes registering a growth of 9 per cent over 59.40 lakh tonnes. In the first half, production was up 12 per cent at 143.89 lakh tonnes (128.61 lakh tonnes).
The iron ore sale during the second quarter was 72.69 lakh tonnes registering a growth of 12 per cent (65.04 lakh tonnes). During the first half, iron ore sales were up 15 per cent at 158.59 lakh tonnes (137.56 lakh tonnes.
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