The mining major NMDC recorded a rise in overall production and sales in July 2020 as compared to the corresponding period in July 2019.
During this period, despite the current uncertain situation due to COVID-19, NMDC has been able to achieve excellent physical performance through its continual push towards higher volumes which saw production of 2.19 MT and sales 2.57 MT that grew by 13% and 7% over the corresponding period last year, respectively.
In July 2020, the Chhattisgarh Projects registered a production of 1.56 million tonnes as compared to the total production of 1.16 million tonnes in the corresponding month of July last year, an increase of 35% in production. NMDC also achieved record sales in July 2020 by selling 1.90 million tonnes of Iron ore in July 2020 against 1.60 million tonnes in July 2019, which is 20% higher than the previous year.
Sumit Deb, Chairman-cum-Managing Director of NMDC, commented that going forward NMDC will strive to maximize cost efficiencies to improve its bottom-line.
NMDC is India's single largest iron ore producer. Shares of NMDC rose 0.53% to Rs 84.90 yesterday.
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