NMDC Q3 profit after tax declines 30.45%
Replying to a query, he said, KPMG which was appointed by the miner on the pricing mechanism to be followed, is expected to submit its recommendations soon and hence the monthly pricing policy will continue in March also.
"We take all factors such as demand and supply scenario and all the appetite of steel sector. We appointed KPMG. We want to have pricing which is fully professional. In a couple of months, it will be ready. We will decide the pricing for March in the first week of March," he said.
On capex for the 12th Plan, he said they earmarked Rs 30,000 crore for the five-year plan and majority of this would be spent on the steel plant in Chhattisgarh.
Verma said NMDC was expanding its capacity from current 32 million tonnes to 48 million tonnes at a cost of Rs 3,000 crore in the next 3-4 years.
For the nine months ended December 31, 2012, the company reported a decline of nearly 13.26 per cent in net profit to Rs 4,877.42 crore, while net sales was down 13.46 per cent to Rs 7,500.02 crore.
The company produced 175.56 lakh tonnes iron ore during the first nine months of the current fiscal, a 13.3 per cent dip over 202.79 lakh tonnes produced a year ago. Sales also declined by 13.47 per cent during the April- December period to stand at 180.38 lakh
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