NMDC June sales drop 14% YoY to 2.57 MT

The state-owned miner's iron ore production skid 13.76% to 2.57 million tonnes (MT) in June 2022 as against 2.98 MT in June 2021.

Iron ore sales in the month of June 2022 stood at 1.90 MT, registering a fall of 40.25% from 3.18 MT sold in June 2021.

On a sequential basis, the PSU minor's iron ore production slipped 19.69% and iron ore sales tumbled 28.3% in June 2022 over May 2022.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of 31 March 2022, the Government of India holds 60.79% stake in the company.

 

The iron ore mining company reported a 36% fall in standalone net profit to Rs 1,815.05 crore in Q4 FY22 as against Rs 2,837.58 crore in Q4 FY21.

Shares of NMDC rose 1.62% to close at Rs 126.50 on the BSE.

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