NMDC Posts Best Ever Quarterly Performance in Apr-Jun 2021
Indian iron ore miner NMDC produced 8.91 million tonnes of iron ore and sold 9.45 million tonnes during Q1 of 2021-22, achieving a growth of 35% over the corresponding quarter of the previous year and 51% in sales over the corresponding quarter of the previous year. This excellent performance, achieved on the back of robust domestic demand and peaking of international iron ore prices, makes this the best Q1 for NMDC since the company’s inception. NMDC CMD Mr Sumit Deb said, “Indian steel majors reporting strong results and also announced expansion plans. That combined with the Government’s determination to continue spending on infrastructure projects while we return to normalcy is extremely encouraging for us at NMDC.”
At INR 4,263 crore, Profit Before Tax for the quarter registered a 462% growth against the INR 759 crore achieved during Q1 of 2020-21. Profit After Tax at INR 3,193 crore, saw a 499 % increase against the INR 533 crore achieved during Q1 of 2021. Turnover during this quarter grew 236% from INR 1,938 crore in Q1 of 2020-21 to INR 6,512 crore in Q1 of 2021-22.