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Sandur Manganese and Iron Ore Ltd’s profit rose 81.68 per cent to Rs 28.97 crore in the fourth quarter (Q4) of 2012-13, mostly due to non-operating income.
The company’s income from operations dropped 36.55 per cent to Rs 39.88 crore, compared to the same quarter last year.
It reported other income of Rs 21.98 crore, which includes an excess provision written back as no longer required. Earnings per share stood at Rs 33.11, compared to negative Rs 18.16 last year. For the quarter, mining revenue stood at Rs 19.24 crore (Rs 49.12 crore), ferro alloys and power Rs 20.65 crore (12.57 crore) and steel was nil (Rs 1.07 crore).
The company said the Supreme Court has let it to resume mining as long as it adopts some environmental practices. It commenced mining operations on February 1. No dividend was declared for the year.
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