NMDC Records Best Ever May Month Performance; witnessed 13.7% and 22% growth in Fy24

Hyderabad: State Miner NMDC produced 3.71 MnT and sold 3.62 MnT of iron ore in the second month of FY24, recording the highest-ever May month production and sales in company history. 

Registering an upswing of 16% in production and 37% in sales over CPLY, NMDC has made a strong start to the fiscal. The country’s largest iron ore producer has achieved its best-ever April and May performances since its inception in FY24. 

NMDC’s cumulative production and sales in FY24 witnessed a 13.7% and 22% growth respectively. In the first two months of the financial year, the company produced 7.22 MnT and sold 7.05 MnT iron ore. 

Commenting on this performance, Shri Amitava Mukherjee, CMD (Additional Charge) said on Wednesday that “India’s volume of iron ore production has been predicted to grow by about 10% in FY24. 

As the largest contributor to this volume, NMDC has set the momentum right with record production and sales at the start of FY24. Our investment in new age tech and digitalization is paying rich dividends to the company and the industry.”