Mineral corporation earns Rs 1.4,00 crore net profit in Q1

In the corresponding period last year, the public-sector mining firm recorded 8.91 tonnes of production and 9.45 tonnes in sales.

Published: 06th August 2022 07:18 AM  |   Last Updated: 06th August 2022 07:18 AM   |  A+A A-

Image for representational purpose only.

Image for representational purpose only.

By Express News Service

HYDERABAD: The National Mineral Development Corporation (NMDC) produced 8.92 tonnes and sold 7.80 tonnes of iron ore in the first quarter of FY 2022-23. In the corresponding period last year, the public-sector mining firm recorded 8.91 tonnes of production and 9.45 tonnes in sales.

NMDC registered a turnover of Rs 4,767 crore, profit before tax (PBT) of Rs 1,946 crore and PAT of Rs 1,469 crore. During the first quarter of FY22, the turnover of the company was Rs 6,512 crore while PBT and PAT figures stood at Rs 4,263 crore and Rs 3,193 crore respectively.  

Sumit Deb, NMDC CMD, said: “Early monsoon and a shortfall in demand accounted for a slow Q1. On a positive note, our constant technological, digital, and financial growth provide comfort that NMDC will mitigate the current challenges and achieve the annual targets.”

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