India’s state owned iron ore miner National Mineral Development Corporation has reported a 58% YoY slump in the July-September quarter profit to INR 972.22 crore from INR 2327.09 crore a year ago. NMDC has reported a dip of 51% YoY to INR 3328.45 crore in the total revenue from operations in quarter. NMDC said “The softening steel prices and higher input costs reportedly squeezed operating profit margins at NMDC.”Iron Ore Production in Jul-Sep Quarter of 2022Chhattisgarh - 4.42 million tonne, down 25% YoYKarnataka - 2.84 million tonne, down 3% YoYTotal - 7.26 million tonne, down 18% YoYIron Ore Sales in Jul-Sep Quarter of 2022Chhattisgarh - 5.25 million tonne, down 17% YoYKarnataka - 3.44 million tonne, up 32% YoYTotal - 8.69 million tonne, down 3% YoYNMDC’s profit plunged to INR 2417.70 crore in H1 of 2022-23, down 58% YoY from INR 5513.86 crore in the corresponding period of last fiscal. NMDC has reported a dip of 39% YoY to INR 8095.52 crore in the total revenue from operations in H1 of 2022-23, down from INR 13305.72 crore during the period last year.Iron Ore Production in H1 of 2022Chhattisgarh - 11.27 million tonne, down 4% YoYKarnataka - 4.91 million tonne, down 17% YoYTotal - 16.18 million tonne, down 9% YoYIron Ore Sales in H1 of 2022Chhattisgarh - 11.45 million tonne, down 14% YoYKarnataka - 4.91 million tonne, down 6% YoYTotal - 16.36 million tonne, down 12% YoY
India’s state owned iron ore miner National Mineral Development Corporation has reported a 58% YoY slump in the July-September quarter profit to INR 972.22 crore from INR 2327.09 crore a year ago. NMDC has reported a dip of 51% YoY to INR 3328.45 crore in the total revenue from operations in quarter. NMDC said “The softening steel prices and higher input costs reportedly squeezed operating profit margins at NMDC.”Iron Ore Production in Jul-Sep Quarter of 2022Chhattisgarh - 4.42 million tonne, down 25% YoYKarnataka - 2.84 million tonne, down 3% YoYTotal - 7.26 million tonne, down 18% YoYIron Ore Sales in Jul-Sep Quarter of 2022Chhattisgarh - 5.25 million tonne, down 17% YoYKarnataka - 3.44 million tonne, up 32% YoYTotal - 8.69 million tonne, down 3% YoYNMDC’s profit plunged to INR 2417.70 crore in H1 of 2022-23, down 58% YoY from INR 5513.86 crore in the corresponding period of last fiscal. NMDC has reported a dip of 39% YoY to INR 8095.52 crore in the total revenue from operations in H1 of 2022-23, down from INR 13305.72 crore during the period last year.Iron Ore Production in H1 of 2022Chhattisgarh - 11.27 million tonne, down 4% YoYKarnataka - 4.91 million tonne, down 17% YoYTotal - 16.18 million tonne, down 9% YoYIron Ore Sales in H1 of 2022Chhattisgarh - 11.45 million tonne, down 14% YoYKarnataka - 4.91 million tonne, down 6% YoYTotal - 16.36 million tonne, down 12% YoY
