NMDCs Record Performance In Second Quaerter

Hyderabad: India’s largest iron ore producer NMDC, in spite of volatile situation in Global Iron and Steel market has achieved record iron ore production of 7.18 MT during the 2nd quarter of 2017-18 registering an increase of 14% over the corresponding period last year (CPLY) and Sales of Iron Ore was 8.30 MT which is about 4% more than that of the CPLY.

 

NMDC has posted a Turnover of Rs 2,421 Cr during the 2nd quarter of 2017-18, representing an increase of 39% over the Turnover of CPLY. The company has recorded PBT of Rs 1,241 Cr and PAT of Rs 844 Cr in the 2nd quarter of 2017-18 which is up by around 19% & 10% respectively over CPLY. 

 

Similarly, NMDC’s production of iron ore for the first half year 2017-18 is 15.67 MT registering a rise of 13% over CPLY and sales of iron ore is 17.48 MT which is up by 11% over the CPLY. 

 

NMDC’s Turnover for the first half year of 2017-18 is Rs 5,263 Cr, PBT Rs 2,809 Cr and PAT Rs 1,814 Cr which is increased by 52%, 31% and 22% over the CPLY respectively. 

 

The increase in Turnover, PBT and PAT during the reporting quarter/half year of 

2017-18 is mainly due to increase in the sales realisation and sales volume, apart from the committed efforts of dedicated team of NMDC.

 

The 2nd quarter results for 2017-18 were approved by the Board of Directors of the Company under the Chairmanship of Shri N. Baijendra Kumar, IAS, in its meeting held on 13.11.2017. Shri N. Baijendra Kumar, IAS congratulated employees for their unstingent efforts in achieving the highest records of production, sales and turnover during 2nd quarter.