NMDC rose 3% to Rs 175.30 at 10:26 IST on BSE after net profit surged 33.93% to Rs 1962.14 crore on 17.6% growth in total income to Rs 4412.03 crore in Q4 March 2014 over Q4 March 2013.
The result was announced after market hours on Friday, 30 May 2014.
Meanwhile, the BSE Sensex was up 121.85 points, or 0.50%, to 24,339.19.
On BSE, so far 2.06 lakh shares were traded in the counter, compared with an average volume of 5.43 lakh shares in the past one quarter.
The stock hit a high of Rs 181 and a low of Rs 171 so far during the day. The stock hit a 52-week high of Rs 189.35 on 21 May 2014. The stock hit a 52-week low of Rs 92.65 on 6 August 2013.
NMDC's net profit rose 1.22% to Rs 6420.08 crore on 9.34% growth in total income to Rs 14152.72 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
On consolidated basis, NMDC's net profit rose 0.58% to Rs 6370.98 crore on 9.3% growth in total income to Rs 14147.31 crore in FY 2014 over FY 2013.
The export of iron ore during the current year was 22.97 lakh tons as against 16.02 lakh tons of previous year. Due to this increase of export of iron ore by 6.95 lakh tons, the selling expenditure has gone up by Rs 458.95 crore, NMDC said.
NMDC achieved a record production and sales of iron ore for the Q4 March 2014 at 9.86 MT and 9.40 MT respectively representing an increase of 3% and 14% respectively in comparison to Q4 March 2013. This was accomplished inspite of the slurry pipeline not being available for considerable time. The company also recorded a growth of 21% in the turnover of the Q4 March 2014 at Rs 3884 crore compared to Corresponding Period Last Year (CPLY) of Rs 3204 crore.
The production and sales of iron ore for FY 2014 was 30.02 MT and 30.50 MT respectively which is higher by 10% and 16% respectively as compared to CPLY. The turnover for FY 2014 is Rs 12058 crore which is higher by 13% compared to Rs 10704 crore in FY 2013. This was possible mainly due to increase in sales quantity by 4.23 MT.
The capital expenditure incurred during the year under various schemes is Rs 2518 crore. NMDC has planned to spend an amount of Rs 3495 crore in the year ending March 2015 (FY 2015).
Speaking on the occasion, NMDC Chairman Mr. Narendra Kothari said: "NMDC's long cherished dream of touching 30 MT production of iron ore has been fulfilled this year. NMDC's role in providing raw material security for the steel industry has strengthened further. Though NMDC is producing around 22% of the country's iron ore production, it would be our endeavour to touch 50% of the country's iron ore production in the near future."
State-run NMDC is India's single largest iron ore producer and exporter. The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 31 March 2014).
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