NMDC iron ore production roses YoY to 3.04 MT in September 24

by Psu Connect
Date: 03-10-24
Ministry of Steel

The state-owned miner's net profit (from continuing operations) jumped 20.25% to Rs 1,984.19 crore in Q1 FY25 as against Rs 1,650.07 crore posted in Q1 FY24.

New Delhi: The state-owned miner NMDC’s iron ore production increased by 1.33% to 3.04 million tonnes (MT) in September 2024 as against 3 MT produced in September 2023.

Iron ore sales in September 2024 stood at 3.54 MT, registering a growth of 13.83% as compared to 3.11 MT recorded in the same period a year ago. Sequentially, the PSU miner's iron ore production declined by 0.98% and iron ore sales fell by 12.74% in September 2024.

The company's net profit (from continuing operations) jumped 20.25% to Rs 1,984.19 crore in Q1 FY25 as against Rs 1,650.07 crore posted in Q1 FY24.

Revenue from operations fell marginally to 5,377.80 crore in the June quarter as compared with Rs 5,394.66 crore posted in Q1 FY24.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of June 2024, the Government of India held 60.79% stake in the firm.