Business Standard

NMDC Steel Q2 results: Loss widens to Rs 595 cr, income at Rs 1,535.46 cr

NMDC Steel's expenses rose to Rs 2,364.39 crore in the second quarter

Q2 earnings, Q2

It had posted a loss of Rs 131.10 crore in the year-ago period.

Press Trust of India New Delhi

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NMDC Steel on Tuesday said its loss had widened to Rs 595.37 crore in September quarter, on account of a surge in expenses.

It had posted a loss of Rs 131.10 crore in the year-ago period, the company said in an exchange filing.

The company's total income increased to Rs 1,535.46 crore from Rs 290.27 crore a year earlier.

However, NMDC Steel's expenses rose to Rs 2,364.39 crore in the second quarter of the ongoing fiscal year from Rs 464.93 crore a year ago.

NMDC Steel Ltd, an entity demerged and formed from mining firm NMDC, owns and operates the 3 million-tonne Nagar Steel Plant at Nagarnar in Chhattisgarh.

 

Nagarnar plant is referred to as India's youngest steel unit set up with an investment of about Rs 23,000 crore.

NMDC Steel started commercial operations at the unit from August 31, 2023.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 12 2024 | 6:29 PM IST

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