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NMDC posts record iron ore production of 7.18 MT in Q2

| | Raipur | in Raipur

India’s largest iron ore producer NMDC Ltd despite volatile situation in Global Iron and Steel market has achieved record iron ore production of 7.18 MT during the 2nd quarter of 2017-18 registering an increase of 14per cent over the corresponding period last year (CPLY), a company press release informed on Tuesday.

Sales of Iron Ore was 8.30 MT which is about 4 per cent more than that of the CPLY.NMDC has posted a Turnover of Rs 2,421 Cr during the 2nd quarter of 2017-18, representing an increase of 39 per cent over the Turnover of CPLY. The company has recorded PBT of Rs  1,241 Cr and PAT of Rs  844 Cr in the 2nd quarter of 2017-18 which is up by around 19 per cent & 10 per cent respectively over CPLY. Similarly, NMDC’s production of iron ore for the first half year 2017-18 is 15.67 MT registering a rise of 13 per cent over CPLY and sales of iron ore is 17.48 MT which is up by 11 per cent over the CPLY.

NMDC’s Turnover for the first half year of 2017-18 is Rs 5,263 Cr, PBT Rs  2,809 Cr and PAT Rs 1,814 Cr which is increased by 52 per cent, 31 per cent and 22 per cent over the CPLY respectively.  The increase in Turnover, PBT and PAT during the reporting quarter/half year of 2017-18 is mainly due to increase in the sales realization and sales volume, apart from the committed efforts of dedicated team of NMDC, it informed.




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