India records robust growth in mineral production for 2023-24
India’s index of mineral production for February 2024 rose to 139.6, which is 8 per cent higher compared to the level recorded in February 2023.
India’s leading Iron ore producer Public Sector Unit, National Mineral Development Corporation Ltd. (NMDC), has delivered another strong financial performance–with a 205% and 196% increase in its turnover and PBT (profit before tax) respectively in the second quarter of FY22.
During the second quarter, the company has been able to outperform both production and sales over the CPLY. In this quarter, NMDC produced 8.77 million tonnes (MT) and sold 8.99 million tonnes (MT) of iron ore, said a senior officer of the Steel Ministry here on Friday.
“NMDC’s turnover for the second quarter (Q2) of 2021-22 is Rs. 6794 crores as against Rs. 2230 crore over CPLY. NMDC’s Profit Before Tax (PBT) for the Q2 of 2021-22 is Rs. 3142 crores as against Rs. 1063 crore during Q2 of 2020-21, an increase of 196%. Profit After Tax (PAT) for Q2 of 2021-22 increased by 202% to Rs.2341 crores against Rs. 774 crores during Q2 of 2020-21,” the Ministry said in a statement.
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NMDC has produced 17.68 MT (Metric Tonnes) and sold 18.43 MT during the H1 of FY22 which is 44% and 43% more than CPLY. NMDC’s Turnover during the H1 of FY22 is 13,306 crore and PBT is 7,405 Crore in H1 which is 219 % and 306% more respectively than CPLY. This is the best ever H1 results for the company, the Ministry claimed.
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