Companies

NMDC returns best ever performance

V Rishi Kumar Hyderabad | Updated on June 22, 2021

Nets ₹2,838 cr in Q4, ₹6,253 cr in FY 2021

Riding on robust growth in the country’s steel sector, State owned NMDC Limited has achieved a record turnover for the 4th Quarter and the financial year ended March 31, 2021.

The iron ore mining major recorded a profit of ₹2,838 crore for the fourth quarter up 708% as against ₹351 crore for the corresponding quarter.

For the fourth quarter, the company turnover was up at ₹6,848 crore, more than doubling as against ₹3,187 crore for the corresponding quarter.

For FY 2021, the company achieved a profit of ₹6,253 crore (up 73 per cent) and turnover of ₹15,370 crore (up 31 per cent) as against a profit of ₹3,610 crore and turonover of ₹11,699 crore for FY2020.

The company achieved a production of 12.31 million tonnes (MT) iron ore during the Q4 quarter as against 9.47 MT, up 30% growth, while realising a 29% growth in sales of iron ore 11.09 MT (8.62 MT).

NMDC produced 34.15 million tonnes (up 8 per cent) over 31.49 MT and sold 33.25 million tonnes of iron ore (up 6 per cent) over 31.51 MT during the financial year 2021 and FY 2020.

The record turnover for the 4th Quarter and FY 2021 are highest since inception.

Sumit Deb, CMD, NMDC said, “This has been an excellent year for the iron and steel sector resulting in these impressive results by Team NMDC, in a year that has been challenging for the economy for more than one reason. All forecasts suggest the global rally in the sector will continue in FY 2022, giving us confidence to achieve our targets for FY 2022.”

Published on June 22, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor