(a) whether the sales and net profit of National Mineral Development Corporation has been
drastically reduced over the last three years;
(b) if so, the details thereof and the reasons therefor;
(c) whether the Government has taken any steps to improve the profit and also the turnover
of NMDC; and
(d) if so, the details thereof and the target fixed for the next three years?
THE MINISTER OF STATE IN THE MINISTRY OF STEEL(SHRI A. SAI PRATHAP)
(a)to(d): The sales and net profit of NMDC Ltd. have consistently increased year by year,
except in the year 2009-2010. The decrease in the performance of NMDC during 2009-10 was on
account of recessionary conditions prevailing in the national and international market during
the first half of 2009-10, due to which the production and sales of the company were less than
the corresponding period of previous year. The price of iron ore in both international and
domestic market also dropped between 33% to 44% during 2009-10.The details of the performance
of the company from 2006-07 to 2009-10 are given below:
(Rs in crores)
Particulars 2006-07 2007-08 2008-09 2009-10
Sales (iron ore & diamond) 4181.52 5709.07 7559.11 6229.54
Profit after tax 2320.21 3250.98 4372.38 3447.26