NMDC Q3 PAT falls 3% YoY to Rs 2050 cr

NMDC reported a 2.8% fall in standalone net profit to Rs 2,050 crore in Q3 FY22 from Rs 2,108.9 crore posted in Q3 FY21.

Net sales grew by nearly 35% to Rs 5,873.77 crore in Q3 FY22 from Rs 4,355 crore posted in Q3 FY21. Profit before tax declined 4.1% to Rs 2,695 crore in Q3 FY22 over Q3 FY21. The PSU mining company's total expenditure surged 105.5% to Rs 3,261 crore in Q3 FY22 as compared to Q3 FY21.

Standalone EBITDA fell 4% to Rs 2,765 crore in Q3 FY22 from Rs 2,873 crore recorded in the corresponding period last year. EBITDA margin declined to 47% in quarter ended December 2021 from 66% posted in the year ago period.

 

On the operational front, iron ore production grew by 11% to 106.49 lakh tonnes while iron ore sales rose by 6% to 98.45 lakh tonnes in Q3 FY22 over Q3 FY21. Average sales realisation was Rs 5,914 per ton, up 27% 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.

Shares of the mining company were trading 1.08% higher at Rs 154.95 on BSE in morning trade.

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