NMDC earns Rs 3,400 crore profit

Hyderabad, Apr 8 (UNI) National Mineral Development Corporation Limited (NMDC), a premier mining PSE under the Ministry of Steel, has closed the financial year 2006-07 with a Profit Before Tax (PBT) of approximately Rs 3,400 crore as against Rs 2,770 crore, the previous best achieved in the last year.

The company's turnover during the year was Rs 4,150 crore as against last year's Rs 3,711 crore.

Talking to newspersons here, NMDC Chairman-cum-Managing Director B Ramesh Kumar said the NMDC had already paid two interim dividends totalling to 267 per cent. The balance amount towards the total dividend becomes payable after the Annual General Meeting (AGM) of the company.

Mr Kumar said the other record performance of the company were total excavation of 36.71 million tonnes (as against the previous year's 31.45 million tonnes), ROM production of 27.73 mt (24.50 mt), production of lump plus fines of 27.10 mt (23 mt), iron ore sales of 25.60 mt (24.85 mt).

UNI