The state-owned miner's iron ore production increased by 3.83% to 4.07 million tonnes (MT) in October 2024 as against 3.92 MT produced in October 2023.
Iron ore sales in the month of October 2024 stood at 4.03 MT, registering a growth of 17.15% as compared to 3.44 MT recorded in the same period a year ago.Sequentially, the PSU miner's iron ore production jumped by 33.88% and iron ore sales grew by 13.84% in October 2024.
NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of June 2024, the Government of India held 60.79% stake in the firm.
The state-owned miner's net profit (from continuing operations) jumped 20.25% to Rs 1,984.19 crore in Q1 FY25 as against Rs 1,650.07 crore posted in Q1 FY24. Revenue from operations fell marginally to 5,377.80 crore in the June quarter as compared with Rs 5,394.66 crore posted in Q1 FY24.
The scrip rose 0.88% to Rs 223.55 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content