National Mineral
Development Corporation (NMDC), a public sector undertaking
of the Steel Ministry has registered a profit of Rs. 282 crore
during April-December 2002-03 and has reduced its operating
expenses to 67 per cent from 77 per cent during the same period
last year. During the period, it has earned a gross margin of
Rs. 312 crore against the target of Rs. 310 crore and net profit
of Rs. 282 crore against the target of Rs.266 crore. The company
is trying to achieve excellent rating in its financial performance
during this fiscal, briefed the CMD of the company to the Minister
for Steel, Shri Braja Kishore Tripathy, who was reviewing today
its performance during the last 3 quarters of this financial
year.
The Minister
asked the CMD, Shri P. R. Tripathy, to fully utilise the rated
capacity and stressed on quality and consumer friendly services.
He advised to increase NMDC sales in the country and abroad.
Shri Tripathy asked the company to set up deadlines for completion
of different phases of the new projects like Romelt Plant and
Bailadila Iron Ore Project 10/11A in Chattisgarh State.
Established
in 1958, NMDC is a mini-ratna category-I company with an authorised
share capital of Rs. 150 crore and a paid-up share capital of
Rs.132.16 crore.
