State-owned NMDC said on Friday that iron ore production increased by 37.5% to 3.41 million tonnes (MT) in August 2023.
The miner had produced 2.48 MT of iron ore in the same month last year.
During August, the company’s sales also rose by 25 per cent to 3.54 MT from 2.83 MT in August 2022.
The company in the April-August period of the ongoing FY24 has produced 16.56 MT iron ore, 23 per cent higher than 13.45 MT in the year-ago period.
Sales during this period also increased to 17.43 MT from 13.44 MT in April-August FY23, posting a rise of 29 per cent.
NMDC, under the Ministry of Steel, is India’s largest iron ore mining company catering to the country’s 20 per cent need for the key steel-making raw material.
On Thursday, at 14.20 p.m. company shares were trading 5.5% up at Rs. 129.85 on NSE.
According to the company filing, total revenue grew by 15% YoY from Rs. 4,913.06 Cr in Q1 FY23 to Rs. 5,688.87 Cr in Q1 FY24, and for the same period net profit grew by 13% from Rs. 1,471.37 Cr to Rs. 1,661.20 Cr.
