NMDC shines after stellar Q3 show

NMDC rose 1.83% to Rs 119.9 after the state-run miner's standalone net profit increased 53.2% to Rs 2108.9 crore on a 44.9% jump in net sales to Rs 4355.1 crore in Q3 FY21 over Q3 FY20.

Profit before tax rose 70.7% to Rs 2810.92 crore in Q3 FY21 over Q3 FY20. Current tax expense jumped to Rs 718.82 crore in Q3 FY21 as against Rs 120.26 crore in Q3 FY20.

EBITDA soared 157% year on year to Rs 2,873 crore in Q3 FY21. EBITDA margin improved to 66% in Q3 FY21 from 50% in Q3 FY20.

During the quarter ended December 2020, the company's iron ore production increased 70% to 96 lakh tonnes (LT), iron ore sales jumped 41% to 92.84 LT over the same period last year. The average domestic realization spiked 41% to Rs 4,402 per ton in Q3 FY21 over Q3 FY20.

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. As on 31 December 2020, Government of India held 69.65% stake in the company.

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