Hyderabad: NMDC Ltd on Wednesday said it expects to exceed the government-set production target of 28 million tonnes (mt) for this financial year.
“Our production will be more than 28 million tonnes this year,” C.S. Verma, chairman-cum-managing director, said on the sidelines of the company’s annual general meeting, without saying by how much the company expects to exceed this target.
“How much more will depend on so many factors, evacuation is the main hurdle,” Verma said.
NMDC produced 27.2 mt of iron ore in the year ended 31 March and sold 26.3 mt.The company expects its revenue to grow at 6-7% this financial year, Verma said. In 2012-13, NMDC’s revenue had declined nearly 5% to Rs.10,698.67 crore. It made a net profit of Rs.6,342.37 crore.