NMDC production up 37%

Dispatches higher at 40% in Q3; improved market conditions are the main reason

Riding on improved market conditions, public sector unit iron ore miner NMDC Limited showed a 37 per cent jump in iron ire production at 7.3 million tonnes (mt) during the third quarter (Q3) of the current financial year, as against a production of 5.3 mt for the corresponding period last year. Ore dispatches during Q3 rose 40 per cent at 7.433 mt, when compared with 5.310 mt in the same quarter last year.

On a sequential basis, iron ore output during Q3 was 23 per cent high when compared with the second quarter (Q2) of the current fiscal. Also, dispatches during the period posted a 15 per cent growth as against the Q2 of the current fiscal, NMDC said in a filing to BSE.

The company stated it was geared up to not only sustain the uptrend in production but also improve its performance further in Q4 of the current fiscal to meet the rising demands of the steel industry.