NMDC logs higher sales, production

India’s largest iron ore producer NMDC has reported a nearly 40% jump in production and 28% higher sales for July.

Iron ore production stood at 3.06 million tonnes as against 2.19 MT in the corresponding period of the previous fiscal. Production in Chhattisgarh was 2.08 MT (1.56 MT), while it was 0.98 MT (0.63 MT) in Karnataka, the company said in a filing.

The public sector mining company registered a sales of 3.29 MT (2.57 MT) in July.

The performance comes on the back of the best ever June performance, when the company registered an 18% year-on-year increase in iron ore production at 2.98 MT and 28% more sales at 3.18 MT.

For the four months of the fiscal, production at 11.96 MT (8.80 MT) is an almost 36% year-on-year increase. Sales at 12.87 MT (8.98 MT) was 43% higher.

Stating that it was best July performance ever, CMD Sumit Deb said, “after exceptional performance in Q1, we have continued with the momentum in July. I congratulate the team for being able to outperform its own records. With this performance, I am upbeat about NMDC achieving its targets for the year.”

July also saw Kirandul complex in Chhattisgarh deliver its best performance to date — 12.34 lakh tonnes of production and 12.08 LT of sales.

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