Saturday, May 14, 2022

NMDC displays exceptional performance in 9 months of FY’21

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New Delhi: NMDC Limited, India’s largest iron ore producer, has registered a 125 percent growth in turnover of Rs.19,179 crore for the first nine months of FY22 compared to Rs 8,522 crore achieved during the same period of FY21.

Profit Before Tax (PBT) for the nine months is Rs 10,101 crore reflecting a growth of 118 percent against the Rs 4,633 crore for the CPLY. Profit After Tax (PAT) for the nine months of FY 22 increased to Rs.7,583 crore which is 122% over Rs.3,415 crore reported during the first nine months of FY 21.

During the period, NMDC produced 10.65 million tonnes (MT) and sold 9.85 million tonnes (MT) of iron ore in the third quarter of FY22. The cumulative production and sale figures for the first three quarters stood at 28.33 MT and 28.28 MT respectively.

The above operational and financial figures are the strongest nine months of performance in NMDC’s history.

NMDC in its Board Meeting held on Tuesday declared 2nd Interim Dividend of Rs 5.73 per share. Considering the first Interim Dividend of Rs 9.01 per share in its earlier board meeting, the total dividend declared per share is Rs 14.74 for the FY2021-2022 which is the highest dividend declared in the history of NMDC. Total Cash Outgo on account of Dividend is Rs 4,320 crore.

Commenting on the performance, NMDC CMD Sumit Deb said, “This strong performance was achieved on the back of enhanced production under challenging times and should reach the production target this fiscal. We continue to be committed to completing important capex projects and the digitalisation and automation of our operations.”

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