The state-owned iron ore miner has increases prices of lump ore and fines, effective from 21 March 2023.
The prices of lump ore (65.5%, 6-40mm) have been increased by Rs 100 or 2.27%, to Rs 4,500 per ton compared with Rs 4,400 per ton fixed on 28 January 2023.The prices of iron ore fines (64%, -10 mm) have been raised by Rs 200 or 5.12%, to Rs 4,110 per ton from Rs 3,910 per ton set on 28 January 2023.
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 31 December 2022, the Government of India held 60.79% stake in the firm.
The company reported 56.6% drop in standalone net profit to Rs 890.09 crore on 36.7% decline in revenue from operations to Rs 3,719.99 crore in Q3 FY23 over Q3 FY22.
The scrip declined 1.02% to currently trade at Rs 111.45 on the BSE.
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