NMDC Reports Impressive Performance for 2020-21
India’s largest iron ore producer NMDC has produced 34.15 million tonnes and sold 33.25 million tonnes of iron ore during the financial year 2020-21. This is an 8% growth in production and 6% in sales from the 31.49 million tonnes produced and 31.51 million tonnes sold during FY 2019-20, achieved in an undoubtedly challenging year. NMDC’s turnover for FY 2020-21 is INR 15,370 crore against INR 11,699 crore during FY 2019-20, registering a growth 31%. Profit before Tax for FY 2020-21 is INR 8,902, a 45% increase from the INR 6,122 crore during FY 2019-20. Profit after Tax at INR 6,253 for FY 2020-21 similarly reflects a growth of 73% from the INR 3,610 crore achieved in FY 2019-20.
NMDC CMD Mr Sumit Deb said “This has been an excellent year for the iron and steel sector and it gives me great pride to share these impressive results achieved by Team NMDC, in a year that has been challenging for the economy more than one reason. All forecast suggests the global rally in the sector will continue in FY 2022 giving us confidence to achieve our targets for FY 2022 while pushing certain exciting initiatives that will bring in lasting improvement to efficiency and performance.”