NMDC clocks 16% increase in net to 1,025 crore 

NMDC CMD (further cost) Amitava Mukherjee 
| Photo Credit: Arrangement

State-owned NMDC reported an nearly 16% year-on-year increase in consolidated net revenue for the quarter ended September to ₹1,024.86 crore.

The larger net revenue for the nation’s largest iron ore producer got here on a greater than 15% increase in whole earnings to ₹4,335.02 crore. During the quarter, iron ore manufacturing elevated 25% to 8.86 million tonnes and gross sales 14% to 9.57 MT.

For the primary half of the fiscal, the net revenue was larger at ₹2,685.90 crore, whereas whole earnings elevated to ₹10,023.89 crore.

“NMDC registered stellar H1 and Q2 performance with remarkable growth and the figures give a fillip to our goal of achieving 50 MT by next fiscal. Our initiatives are dovetailed with our strategies for ensuring sustainable growth, increased profitability and a stronger market presence in the domestic industry,” CMD (Additional Charge) Amitava Mukherjee mentioned.

Thrust on volumes and optimisation of operational effectivity is preserving the corporate in good stead to keep its area of interest as a market chief amid dynamic market situation, he mentioned.

For the half 12 months ended September, iron ore manufacturing at 19.56 MT was an increase of twenty-two% 12 months on 12 months, whereas gross sales went up 27% to 20.55 MT.