NMPT net surplus tops Rs 100-cr mark for sixth year

The net surplus of the New Mangalore Port Trust (NMPT) has crossed the Rs 100-crore mark for the sixth consecutive year during 2010-11.

Addressing the annual press conference here on Tuesday, Mr P. Tamilvanan, Chairman, said that the total income stood at Rs 339.8 crore and total expenditure at Rs 234.54 crore during 2010-11, recording a net surplus of Rs 105.26 crore.

Net revenue

With this, the net revenue of the port crossed the Rs 300-crore mark for the fourth consecutive financial year and net surplus crossed Rs 100 crore for the sixth consecutive year, he said.

During 2009-10, the total income stood at Rs 363.18 crore and expenditure at Rs 234.51 crore, recording a net surplus of Rs 128.67 crore.

Asked about the reason in the decline in net surplus, he said that the port witnessed a shortfall of 3.97 million tonnes of iron ore during 2010-11. The ban on the export of iron ore resulted in less handling of iron ore fines. This affected revenue also, he said.

Iron ore fines

The port, which handled 5.2 million tonnes of iron ore fines in 2009-10, handled only 0.9 million tonnes in 2010-11. It may be mentioned here that the Karnataka Government had imposed a ban on the movement of iron ore on July 26, 2010. The total cargo handling at the port stood at 31.55 million tonnes (35.52 million tonnes) during 2010-11.

To a query on the prospects of iron ore handling with the Supreme Court lifting the ban on its movement in the state, he said the port is optimistic ofhandling iron ore fines during 2011-12.

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