The state-owned miner said its iron ore production was flat at 2.52 million tonnes (MT) in June 2020 compared with June 2019.
Iron ore sales declined 6.77% to 2.48 MT in June 2020 as against 2.66 MT in June 2019. The announcement was made after market hours on Wednesday, 1 July 2020.Sequentially, production jumped 10% in June 2020 from 2.29 MT in May 2020. Sales declined 2.75% during the month from 2.55 MT in May 2020.
On a consolidated basis, NMDC's net profit slumped 76.1% to Rs 347 crore on 12.5% fall in net sales to Rs 3,187.34 crore in Q4 March 2020 over Q4 March 2019. EBITDA slipped 33% to Rs 1,528 crore in Q4 March 2020 as against Rs 2,288 crore in Q4 March 2019. The EBITDA margin stood at 48% in Q4 FY20 as compared to 63% in Q4 FY19.
Shares of NMDC rose 1.36% to Rs 82.15 on BSE. The stock traded in the range of Rs 81.50 to Rs 83 so far.
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 31 March 2020, the Government of India holds 69.65% stake in the mining company.
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