NMDC posts PAT Rs 1,179 cr in Q1 2019-20

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NMDC posts PAT Rs 1,179 cr in Q1 2019-20

Wednesday, 14 August 2019 | PNS | New delhi

NMDC has posted its Q1 2019-20 PBT & PAT which are Rs 1,913 crore and Rs 1,179 crore respectively. The company has seen 30% and 21% in comparison with the Q1 of 2018-19, i.e. Rs 1,477 crore and Rs 975 crore respectively.

Iron ore production in Q1 is 8.43 MT against 6.98 MT in Q1 of 2018-19, registering a growth of 21%. Similarly, iron ore sales has increased from 6.78 MT in Q1 of 2018-19 to 8.67 MT in Q1 of 2019-20, witnessing a growth of 28%. These are the best ever performance since inception for Q1 (excluding Donimalai which was non-operational in Q1 FY 20).

The sales turnover for the Q1 of 2019-20 is Rs 3,264 crore which is 35% higher than the CPLY which was Rs 2,422 crore. In absolute terms, this is the best result in last 5 years and if revenues from Donimalai are excluded, this is the best ever turnover for Q1 since inception.

During the quarter NMDC received prestigious S&P Global PLATTS Metals Award 2019 in CSR category for the second consecutive year. NMDC also bagged Certificate of Merit in Challengers category of “Frost & Sullivan” — The Energy and Resources Institute (TERI) Sustainability 4.0 Awards. NMDC is embarking on a digital transformation journey in the new Financial Year, by adopting ERP through project titled ‘Kalpataru’.

N Baijendra Kumar, IAS, CMD, NMDC said it is a proud moment for the company to excel and create new bench marks both in physical and financial performances inspite of closure of Donimalai Mine in Karnataka and challenges at Bailadila Complex in Chhattisgarh. He also expressed that with the kind of hard-work and commitment demonstrated by the employees, NMDC would surely surpass its targets for FY 20.

 

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