NMDC Dec production rises 2.3% YoY

The PSU miner's iron order production rose 2.33% to 3.95 MT in December 2021 as against 3.86 MT in December 2020.

Meanwhile, provisional iron ore sales aggregated to 3.4 MT in December 2021 as against 3.54 MT in December 2020, down by 4% year on year.

On a consolidated basis, the net profit of NMDC surged 202.7% to Rs 2,338.63 crore on 204.7% increase in net sales to Rs 6,793.51 crore in Q2 FY22 over Q2 FY21.

Shares of NMDC were trading 0.45% higher at Rs 134 on BSE. 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 of 30 September 2021, the Government of India held 60.79% stake while Life Insurance Corporation (LIC) of India held 14.16% stake in the company.

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