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Increase in OMC turnover

Staff Reporter

BHUBANESWAR: Buoyed by heavy demand of minerals in domestic as well as international market, the Orissa Mining Corporation Limited (OMC), the country's largest State PSU, has reported turnover of over Rs. 1,080 crores in 2006-2007, a jump of 59 per cent, against Rs.680 crores in 2005-06.

Similarly, the provisional operational profit touched Rs.540 crores in 2006-07 as against Rs.324 crores in the previous year, according to an OMC statement here. The growth represented 67 per cent to previous year's operational profit.

Production of chrome ore, which was 6.46 lakh MT in 2005-06, increased by 78 per cent to 11.50 lakh MT in 2006-07. Iron ore production, which stood at 34.19 lakh MT in 2005-06, touched 43 lakh MT in 2006-07 representing a growth of 26 per cent over the previous year. Rise in sale of iron ore, chrome ore, chrome concentrate and manganese ore contributed to the record turnover that touched Rs. 1,000-crore mark for the first time.

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