Iron ore miner NMDC has suffered over 745 crore rupees revenue loss during 2007-10 for not revising the domestic prices of the steel-making raw material in linewith prevailing market rates. The CAG in a report, tabled in Rajya Sabha today said due to non-revision of domestic prices by the NMDC in line with movement of market price, the company has suffered a revenue loss of nearly 755 crore rupees during 2007-10.AIR correspondent reports, during 2005-12, NMDC contributed 13 per cent of India's iron ore production and met 26 per cent of the domestic iron ore demand. Last fiscal, it had sold 27.3 million tonnes iron ore valued at over 11,167 crore rupees.
News On AIR | December 20, 2012 1:37 PM
NMDC suffers over 745 cr revenue loss during 2007-10