Sandur Manganese & Iron Ores added 2.80% to Rs 431 after the company announced the receipt of approval for enhancement of Permissible Annual Production (PAP) limit of iron ore.
Accordingly, the company would enhance its iron ore production limit from present 3.81 million tonnes per annum (MTPA) to 4.36 MTPA.
"The company will now obtain consent for operation (expansion) from Karnataka State Pollution Control Board and other regulatory approvals to operate at enhanced levels, Sandur Manganese said in a statement.
Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in mining of low phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferro-alloys (silico-manganese) at its plant in Vyasankare, near Hospet.
The company's consolidated net profit rose 19.13% to Rs 32.14 crore on a 40.82% increase in sales to Rs 260.25 crore in Q2 FY25 over Q2 FY24.
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