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NMDC rallied 3.09% to Rs 143.25 after the PSU miner’s iron ore production jumped 18.13% to 4.56 MT in January 2022 as against 3.86 MT in January 2021.
Meanwhile, provisional iron ore sales aggregated to 4.24 MT in January 2022 as against 3.74 MT in January 2021, rising 13.36% year-on-year.
On a consolidated basis, the net profit of NMDC surged 202.7% to Rs 2,338.63 crore on 204.7% increase in net sales to Rs 6,793.51 crore in Q2 FY22 over Q2 FY21. The company’s board will consider Q3 results on 10 February 2022.
NMDC, a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India. It owns and operates iron ore mines in Chhattisgarh and Karnataka and has its registered office at Hyderabad, Telangana. It also operates a diamond mine in India at Panna, Madhya Pradesh.
The Government of India holds 60.79% stake in the company as of 31 December 2021.
Source: Capital Market