NMDC Q2 PAT down 27% sequentially

NMDC reported 27% drop in standalone net profit to Rs 2,341 crore on a 4% rise in revenue from operations to Rs 6,794 crore in Q2 FY22 over Q1 FY22.

EBITDA declined 26% to Rs 3,203 crore in Q2 FY22 from Rs 4,322 crore in Q1 FY22. EBITDA margin was 47% in Q2 FY22 as against 66% in Q1 FY22.

Profit before tax in Q2 FY22 stood at Rs 3,142 crore, down by 26% from Rs 4,263 crore in Q1 FY22.

As compared with Q2 FY21, the company's net profit and revenue in Q2 FY22 are higher by 202% and 205%, respectively.

Iron ore production declined by 2% to 87.70 lakh tonnes and iron ore sales fell by 5% to 89.85 lakh tonnes in Q2 FY22 over Q1 FY22. As compared with Q2 FY21, iron order production and sales are higher by 56% and 36%, respectively.

Average sales realisation was Rs 7,443 per ton, up 9% QoQ and up 124% YoY.

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.

The scrip shed 0.93% to currently trade at Rs 143.35 on the BSE.

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