Companies

NMDC reports Rs 2,782 cr turnover in Q1

Our Bureau Hyderabad | Updated on September 28, 2011 Published on September 28, 2011

The country's largest iron ore producer NMDC has clocked a turnover of Rs 2,782 crore in the first quarter of the current fiscal, as against Rs 2,517 crore in the corresponding quarter of last fiscal.

The company's performance was reviewed by the Union Steel Minister Mr Beni Prasad Verma at a meeting in New Delhi today. Mr Rana Som, NMDC's CMD, was also present. It was pointed out at the meeting that the company produced 6.07 million tonnes during the quarter, as against 5.76 million tonnes in the year-ago period. This is a significant development for the domestic steel sector, which is reeling under raw material shortage. The Minister expressed satisfaction over the company's performance.

NMDC has already awarded four major packages for the proposed three million tonne steel plant in Nagarnar. He wanted the company to complete the up coming projects, including the 1.2-million-tonne pellet plant in Danimalai and development of deposit-11B in Bailadila, as per schedule.

Published on September 28, 2011
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