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India’s leading iron ore producer registers highest growth this year

NMDC’s Profit Before Tax (PBT) for the nine months was Rs.10,101 crore reflecting a growth of 118% against the Rs.4,633 crore for the CPLY. Profit After Tax (PAT) for the 9 months of FY 22, said a senior officer of the Steel Ministry here on Wednesday.

Statesman News Service | New Delhi |

India’s leading iron ore producer National Mineral Development Corporation (NMDC), a unit under the Ministry of Steel, have registered a 125% growth in turnover of Rs.19,179 crore for the first nine months of FY22 compared to Rs. 8,522 crore achieved during FY21.

NMDC’s Profit Before Tax (PBT) for the nine months was Rs.10,101 crore reflecting a growth of 118% against the Rs.4,633 crore for the CPLY. Profit After Tax (PAT) for the 9 months of FY 22, said a senior officer of the Steel Ministry here on Wednesday.

This has increased to Rs.7,583 crore which is 122% over Rs.3,415 crore reported during the first nine months of FY 21, the Ministry said.

NMDC produced 10.65 million tonnes (MT) and sold 9.85 million tonnes (MT) of iron ore in the third quarter of FY22. Cumulative production and sale figures for the first three quarters stood at 28.33 MT and 28.28 MT respectively. The company has also declared the second interim dividend of Rs 5.73 per share in its Board Meeting here on Tuesday, the Ministry said.

Considering the first Interim Dividend of Rs 9.01 per share in its earlier Board meeting, the total dividend declared per share is Rs 14.74 for the FY 2021-2022 which is the highest dividend declared in the history of NMDC, the Ministry said.