NMDC Q1 PAT soars to Rs 3,191 cr

NMDC's consolidated net profit soared 500.14% to Rs 3,191.45 crore on 236.11% jump in revenue from operations to Rs 6,512.21 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).

Consolidated profit before tax surged 461.93% to Rs 4,261.99 crore in Q1 FY22 as against Rs 758.45 crore in Q1 FY21. The Q1 result was declared at the fag end of trading hours today, 12 August 2021.

Revenue from iron ore business grew 235.28% to Rs 6447.18 crore in Q1 FY22 as against Rs 1922.89 crore in Q1 FY21. Revenue from pellets, other materials & service climbed 345.10% to Rs 65.03 crore in Q1 FY22 compared with Rs 14.61 crore in Q1 FY21.

Iron ore production rose 35% to 89.10 LT while iron ore sales jumped 51% to 94.49 LT in Q1 June 2021 over Q1 June 2020. Average sales realisation jumped 123% to Rs 6823 per tonne during the period under review.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.

Shares of NMDC rose 1.19% to close at Rs 173.75 on BSE. As on 23 July 2021, the Government of India held 60.79% stake in the company.

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