Team News Riveting
Hyderabad, February 14
National Miner NMDC registered its best ever quarter production with 10.66 million tonnes (MT) output in the third quarter (Q3) of the current financial year (FY23).
NMDC in its Board Meeting held on Tuesday reported a turnover of Rs 11,816 crore for the first nine months of this financial year ended December 31, 2022. Company’s Profit Before Tax (PBT) for the nine months is Rs 4351 crore and Profit After Tax (PAT) for the nine months is Rs 3252 crore.
The state-run miner produced 10.66 MT and sold 9.58 MT of iron ore in the third quarter of FY23. Cumulative production and sales figures for the first three quarters stood at 26.69 MT and 25.81 MT respectively.
NMDC declared an Interim Dividend of Rs 3.75 per share.
Commenting on the performance, Sumit Deb, CMD, NMDC said, “Iron and Steel industry is the backbone of India’s infrastructure growth and this year’s Union Budget emphasis on increasing capex will propel a robust domestic steel demand. With thriving iron ore production and growing capital that can be reinvested in the company, NMDC is ready to meet the demand. I congratulate the team NMDC for its best ever Q3 production.”
