The Hindu : Andhra Pradesh / Hyderabad News : NMDC announces second interim dividend

Online edition of India's National Newspaper
Thursday, Feb 09, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

NMDC announces second interim dividend

Special Correspondent

It paid a dividend of 76.93 p.c. in Nov.

HYDERABAD: The National Mineral Development Corporation (NMDC) has declared 115.4 per cent interim dividend to its shareholders following the corporation's robust performance during the first three quarters of the current financial year.

For the first time in its history, the corporation has declared an interim dividend for the second time in a year. The NMDC had already paid a dividend of 76.93 per cent in November.

According to NMDC Chairman and Managing Director B. Ramesh Kumar, the corporation

netted sales of Rs. 2,569.07 crores by the end of the third quarter as against Rs. 1,436.59 crores during the same period last year.

The net profit stood at Rs. 1,273.42 crores during the period against Rs. 486.19 crores during the corresponding period last year while, earnings per share touched an all time high of Rs. 96.35 against Rs. 36.79.

The increased turnover and profits was due to the rise in the prices of iron ore and enhanced productivity from the existing ores.

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