Tuesday, August 9, 2022

Q2 FY22 results: NMDC registers best-ever Q2 and half-yearly performance

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Hyderabad: NMDC Limited continues to outperform itself with iron ore production of 2.69 MT and sales of 2.73 MT in the month of September. The mining major has registered a growth of 47 percent in production, the highest ever in any September month since inception and a rise of 30 percent in sales over CPLY.

In the second quarter of this fiscal, NMDC produced 8.80 MT and sold 8.93 MT iron ore. With a 56 percent increase in production and a 37 percent increase in sales over CPLY, the Navratna PSE surpassed its previous best Q2 performance.

Cumulative production and sales figures up to September 2021 stood at 17.71 MT and 18.50 MT respectively, recording the best ever half-yearly performance. The company achieved a 45 percent increase in production and 43 percent in sales over the same period last year. 

Congratulating the NMDC team for another impressive performance, NMDC CMD Sumit Deb said, “Our focus to enhance mine capacity and strengthen logistical support has significantly improved our operational efficiency. With the best-ever Q2 and half-yearly performance, the team has proven that NMDC is on a strong, stable footing to beat the challenges and absorb cyclical volatility.”

Disclaimer: This story is a press release and is being published without any editing by PSU Watch desk. Our editorial team has only changed the headline.

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