NMDC delivers best ever Q3 production, declares dividend

New Delhi: National Miner NMDC registered its best ever Q3 production with 10.66 million tonnes produced in the third quarter of the current financial year (FY 2022-23).

NMDC in its Board Meeting held on February 14, 2023 reported a turnover of Rs 11,816 crore for the first nine months of this financial year. Company’s Profit Before Tax (PBT) for the nine months is Rs 4,351 crore and profit after tax (PAT) for the nine months is Rs 3,252 crore.

NMDC produced 10.66 million tonnes (MnT) and sold 9.58 million tonnes (MnT) of iron ore in the third quarter of FY 2022-23. The cumulative production and sales figures for the first three quarters stood at 26.69 MnT and 25.81 MnT respectively.

NMDC declared an interim dividend of Rs 3.75 per share.

Commenting on the performance, NMDC Limited's Chairman & Managing Director (CMD) Sumit Deb, “iron and steel industry is the backbone of India's infrastructure growth and this year’s Union Budget emphasis on increasing capex will propel a robust domestic steel demand. With thriving iron ore production and growing capital that can be reinvested in the company, NMDC is ready to meet the demand. I congratulate the team NMDC for its best ever Q3 production.”

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