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NMDC’s Posts Spectacular Performance in Q1

Mining News - Published on Wed, 14 Aug 2019

Image Source: Financial Express
The 1st quarter of 2019-20 has witnessed a spectacular growth both in physical and financial performances over CPLY. Iron ore production in Q1 is 8.43 million tonne against 6.98 million tonne in Q1 of 2018-19, registering a growth of 21%. Similarly, iron ore sale has increased from 6.78 million tonne in Q1 of 2018-19 to 8.67 million tonne in Q1 of 2019-20, witnessing a growth of 28%. These are the best ever performance since inception for Q1 (excluding Donimalai which was non-operational in Q1 FY 20).

The sales turnover for the Q1 of 2019-20 is INR 3,264 crore which is 35% higher than the CPLY which was Rs.2,422 crore. In absolute terms, this is the best result in last 5 years and if revenues from Donimalai are excluded, this is the best ever turnover for Q1 since inception. PBT & PAT for Q1 of 2019-20 is INR 1,913 Crore and INR 1,179 Crore respectively which is 30% and 21% more than Q1 of 2018-19, i.e. INR 1,477 Crore and INR 975 Crore respectively.

Mr N Baijendra Kumar, CMD NMDC said “It is a proud moment for the company to excel and create new bench marks both in physical and financial performances inspite of closure of Donimalai Mine in Karnataka and challenges at Bailadila Complex in Chhattisgarh. He also expressed that with the kind of hard-work and commitment demonstrated by the employees, NMDC would surely surpass its targets for FY 20.”

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Posted By : Sanju Moirangthem on Wed, 14 Aug 2019
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