Falling iron prices play spoilsport for NMDC

As revenues and profitability remain robust, lower international iron ore prices is an overhang

NMDC continues to witness strong volume growth with improving realisations driving its quarterly performance. During the March quarter (Q4), the company achieved volumes of 9.8 million tonnes (MT) which were much better than 8.8 MT in the year-ago quarter. Similarly, per tonne realisations at Rs 2,841 also improved from Rs 2,403 in the December quarter and Rs 1,658 seen in the year-ago quarter.

Thus, the company saw an 88 per cent year-on-year (y-o-y) and 15 per cent sequential rise in sales to Rs 2,872 crore. This was also ahead of Street expectations as Bloomberg consensus estimates pegged revenues at Rs 2,694