NMDC Limited has registered a decline in net profit by 13 per cent for 2012-13. However, it has declared its highest ever dividend at the rate of 700 per cent for the full year.
The company said its net profit was Rs 6,342.37 crore in 2012-13, while the corresponding figure was Rs 7,265.39 crore in 2011-12.
NMDC’s turnover has fallen 5 per cent to Rs 10,704 crore, against Rs 11,262 crore in 2011-12. The fall in turnover was mainly due to incessant rainfall as well as low offtake of iron ore by customers and evacuation problems in the Bailadila region during second and third quarter of 2012-13.
Production and sales of iron ore for 2012-13 was 27.184 MT and 26.274 MT respectively. Production was down by 1 per cent while sales were lower by 4 per cent.
NMDC said that there will be no change in the prices of iron ore lumps and fines for June.