The country’s largest iron ore miner NMDC Ltd on Wednesday (January 1) posted a 5.1% year-on-year (YoY) increase in iron ore production for December 2024, reaching 4.71 million tonnes (MT) compared to 4.48 MT in the same period last year.
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However, iron ore sales declined by 6.7% YoY to 3.91 MT, down from 4.19 MT in December 2023.
NMDC reported an 18.1% year-on-year (YoY) increase in net profit at ₹1,211.6 crore for the second quarter that ended on September 30, 2024. In the corresponding quarter of the previous fiscal, NMDC posted a net profit of ₹1,026 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹1,433 crore for the quarter under review.
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The company’s revenue from operations surged 22.5% to ₹4,919 crore against ₹4,014 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of ₹4,681 crore for the quarter under review.
At the operating level, EBITDA was up 16.4% to ₹1,385.7 crore in the second quarter of this fiscal over ₹1,191 crore in the year-ago period. The CNBC-TV18 poll had predicted an EBITDA of ₹1,672 crore for the quarter under review.
The EBITDA margin stood at 28.2% in the reporting quarter versus 29.7% in the Q2 of FY24. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 35.7% for the quarter under review.
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Shares of NMDC Ltd ended at ₹65.98, up by ₹0.030, or 0.045%, on the BSE.
(Edited by : Shoma Bhattacharjee)
