The state-owned miner's iron ore production de-grew by 13.21% to 4.86 million tonnes (MT) in March 2024 as against 5.60 MT in March 2023.
Iron ore sales in the month of March 2024 stood at 3.96 MT, registering a decrease of 18.18% as compared to 4.84 MT recorded in the same period a year ago.Sequentially, the PSU miner's iron ore production grew by 23.98% and iron ore sales fell by 0.75% in March 2024 over February 2024.
On full year basis, total production increased 10.48% to 45.10 MT in FY24 as against 40.82 MT in FY23. The total sales increased 16.38% to 44.48 MT in FY24 as compared to 38.22 MT sold in FY23.
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 December 2023, the Government of India held 60.79% stake in the firm.
The companys consolidated net profit jumped 67.7% to Rs 1,492.68 crore on 45.43% increase in revenue from operations to Rs 5,409.90 crore in Q3 FY24 over Q3 FY23.
The scrip declined 0.45% to Rs 211.65 on the BSE.
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