Hyderabad: State-run iron ore miner NMDC Ltd said it has clocked a 68% jump in profit after tax for the third quarter ended December 31, 2023, at 1,492 crore as compared to 890 crore in Q3 of FY23.
This was on 45% rise in turnover to 5,410 crore in Q3FY24 as against 3,720 crore in Q3FY23 as the Navratna public sector enterprise recorded its highest ever production and sales volume of 12.22 metric tonnes and 11.39 MT, respectively, for the quarter, clocking a 15% and 19% growth in production and sales, respectively, over Q3FY23.
With this, the nine-month cumulative production stood at 31.78 MT and sales reached 31.94 MT, marking a 19% jump in production and 24% rise in sales over the corresponding period of last fiscal.
NMDC also declared its first interim dividend of 5.75 per share, which is 575% of the face value of 1 per share, for FY24. NMDC Ltd chairman & managing director Amitava Mukherjee said India’s rapidly growing steel demand is expected to continue its upward momentum, directly aligning with the overall GDP growth. tnn
This was on 45% rise in turnover to 5,410 crore in Q3FY24 as against 3,720 crore in Q3FY23 as the Navratna public sector enterprise recorded its highest ever production and sales volume of 12.22 metric tonnes and 11.39 MT, respectively, for the quarter, clocking a 15% and 19% growth in production and sales, respectively, over Q3FY23.
With this, the nine-month cumulative production stood at 31.78 MT and sales reached 31.94 MT, marking a 19% jump in production and 24% rise in sales over the corresponding period of last fiscal.
NMDC also declared its first interim dividend of 5.75 per share, which is 575% of the face value of 1 per share, for FY24. NMDC Ltd chairman & managing director Amitava Mukherjee said India’s rapidly growing steel demand is expected to continue its upward momentum, directly aligning with the overall GDP growth. tnn
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NMDC iron ore output rises 15% in Q3, net profit soars 68%
NMDC Ltd reports a 68% jump in PAT for Q3FY24 at Rs 1,492 crore. Highest-ever production and sales volume. Nine-month cumulative production and sales show significant growth. 28% increase in PAT at Rs 4,170 crore. Amitava Mukherjee highlights steel demand growth and technology investments.
NMDC Ltd reports a 68% jump in PAT for Q3FY24 at Rs 1,492 crore. Highest-ever production and sales volume. Nine-month cumulative production and sales show significant growth. 28% increase in PAT at Rs 4,170 crore. Amitava Mukherjee highlights steel demand growth and technology investments.