Hyderabad, (Thestates.news) | National Mineral Development Corporation (NMDC), India’s largest iron ore producer, on Thursday reported a 30 per cet increase in its net profit to Rs 1944 crore for Q3 FY25 against Rs 1492 crore in the corresponding period last year. The revenue during the quarter rose 21 percent to Rs. 6,531 crore compared to Rs.5,410 crore last year, the state-owned mining company said in a release here.
Though the production during the quarter increased 9 per cent to 13.29 MT compared to corresponding period last year, the 9-months cumulative production declined to 30.77 MT from 31.78 MT in the corresponding period last year. However in the company’s sales for 9-months also slightly down to 31.74 MT from 31.94 MT in corresponding period last year despite for Q3FY25 increased 5 per cent to 11.94 MT compared to 11.39 MT in the corresponding quarter last year.
NMDC entered the fourth quarter of FY25 on a strong momentum as its net profit for nine months rose 25 per cent to Rs. 5,196 crore, while the turnover soared 13 per cent to Rs. 16,715 crore over CPLY. Commenting on the performance, Amitava Mukherjee, CMD (Additional Charge), NMDC stated,
“The demand for iron ore and steel in India is rapidly growing, and NMDC is well-positioned to support the nation’s GDP growth. Despite the challenges faced this financial year, NMDC’s
results remain positive on a sequential basis, strengthening a growth trajectory towards the next quarter and positioning itself to break new records in physical and financial performance this year.”(UNI)
