NMDC on 4 April 2020 reduced prices of lump ore by Rs 500 or 15.87% to Rs 2650 per tonne for April from Rs 3,150 set in March 2020.
The company also reduced prices of fines by Rs 500 or 17.48% to Rs 2360 per tonne for April from Rs 2860 set in March 2020.The company's total sales declined 24.58% to 2.70 million tonnes in March 2020 from 3.58 million tonnes reported in March 2019.
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.
On a consolidated basis, NMDC's net profit declined 11.2% to Rs 1394.40 crore in Q3 December 2019 (Q3 FY20) as against Rs 1569.77 crore reported in Q3 December 2018 (Q3 FY19). Net sales fell 17.6% year-on-year (YoY) to Rs 3006.38 crore in Q3 December 2019
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