NMDC has reported a 5.1% increase in iron ore production in December 2024, reaching 4.71 million tonnes (MT) compared to the production volume of 4.48 MT recorded in the same month of the previous year.
However, the company's iron ore sales have declined by 6.7% to 3.91 MT in December 2024 from 4.19 MT in December 2023.
The iron ore production in the Chhattisgarh division rose 4% YoY, while sales dipped by 12.2%. In contrast, the Karnataka division witnessed a 7.9% YoY increase in production and an 8.3% YoY rise in sales volume.
The company's cumulative production for the year up to December 2024 reached 30.77 MT, a 3.2% YoY decline. Sales for the same period stood at 31.80 MT, a slight 0.4% decrease compared to the previous year.
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 September 2024, the Government of India held 60.79% stake in the firm.
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The company had reported 18.1% jump in consolidated net profit to Rs 1,211.57 crore on 22.5% increase in net sales to Rs 4,918.91 crore in Q2 FY25 over Q2 FY24.
The scrip rose 0.55% to currently trade at Rs 66.34 on the BSE.
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