Apr 21, 2020, 12:21 PM
Journalist ID: 1195
News Code: 83759109
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Iranian metal and ore section reinvests rls 150 trillion

Tehran, Apr 21, IRNA – Figures indicate that Iranian metal and ore companies allocated rls 150 trillion from their profit last Iranian year to develop investment in the same section.

Metals and ores constituted 22 percent of Iranian stock market, while the same section had a 36 percent share in profit generated in the market, IRNA's economic correspondent reported on Tuesday.

Evaluations suggest that while undistributed profits amounts to 37 percent of the whole market income, the figure is 49 percent for metal and ore section.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) last Iranian year (March 2019-March 2020) instructed big companies in mining section to reinvest their income.

The policy led to reinvestment of 150 trillion Iranian Rials of the profit those companies made last year, from which 126 trillion Rials was realized by Mobarakeh Steel Company and National Iranian Copper Industry Co.

IMIDRO, after the appointment of the new CEO last December, put designing of a management control system on big companies on agenda to make investment a priority.

National Iranian Copper Industry Co. last year reported a 125 percent increase in sales compared to the previous period.

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