Export prices bottomed out; hope to maintain sales: NMDC

State-run iron ore miner NMDC beat street expectations on Friday with the third quarter profit rising 1.6 percent year-on-year to Rs 1,593 crore. Speaking to CNBC-TV18, CMD Narendra Kothari shares his outlook on the performance of the company going ahead.

According to Kothari, the export prices seemed to have bottomed out. “Exports, the international prices have been rock-bottom, and we have to spend a lot of money on the export duty and almost 250 percent additional fare on the railways, so we are making losses on exports front, but as a commitment of government of India given to Japan, we are exporting, whatever targets are there we will do it target completion, but our domestic market has a better realisation, and we are very competitive in domestic market,” he added.

Meanwhile, Kothari said sales are due to demand in various situations, initially it was quite okay up to October-November but now there are some pressures. “This is because there is a certain release in the Orissa side, international prices are down, I hope we will take correct pricing strategy and will be able to maintain our sales,” he added.