Navratna Central Public Sector Enterprise which is India’s largest iron ore producer jumped 7 percent in the day’s trade following the release of its Q3FY24 results and an interim dividend of Rs. 5.75 per equity share.
With a market capitalization of Rs. 71,858 Crores, the shares of NMDC Limited were trading at Rs. 245.20, up 4.12 percent from its previous day’s close price of Rs. 235.50.
Its revenue from operations grew by 45.42 percent YoY from Rs. 3,719.99 Crores in Q3FY23 to Rs. 5,409.9 Crores in Q3FY24 and it grew 34.77 percent QoQ from Rs. 4,013.98 Crores in Q2FY24 to Rs. 5,409.9 Crores in Q3FY24.
Its Net Profit grew by 62.60 percent YoY from Rs. 903.89 Crores in Q3FY23 to Rs. 1,469.73 Crores in Q3FY24 and it grew 43.40 percent QoQ from Rs. 1,024.86 Crores in Q2FY24 to Rs. 1,469.73 Crores in Q3FY24.
In Addition to this, it has declared its first interim dividend for the financial year 2023-24 of Rs. 5.75 per equity share and has fixed February 27, 2024, as the record date to determine the eligible shareholders of the company to receive the dividend.
NMDC Limited is a Navratna Central Public Sector Enterprise, which is India’s largest iron ore producer contributing around 16.07 percent of the total iron ore produced in India. It is involved in the exploration of a range of minerals like copper, rock phosphate, limestone, magnesite, diamond, tungsten, etc.
It has reported a return on equity (ROE) of 27.26 percent and a return on capital employed (ROCE) of 36.04 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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