NMDC Boosts Iron Ore Production by 5.1% in December

1 Jan 2025 , 09:40 PM

NMDC Ltd, India’s largest iron ore producer, has seen a 5.1% increase in production in December 2024 compared to the same period last year. It produced 4.71 million tonnes (MT) of iron ore in December 2024, against 4.48 MT produced in December 2023.

On 1 January, 2025, shares of NMDC Ltd closed at ₹66 which is a 0.26% gain than the previous close. The stock has witnessed a total of 6% dip in the last one year.

Iron ore sales, however, declined by 6.7%, selling 3.91 MT in December 2024 compared to 4.19 MT in December 2023. NMDC delivered a strong increase in net profits at 18.1% for the quarter ending September 30, 2024, as the result stands at ₹1,211.6 crore against ₹1,026 crore for the same period last year.

Revenue from operations of the company also rose significantly up by 22.5% to ₹4,919 crore in Q2 FY25 against ₹4,014 crore in Q2 FY24. EBITDA in operations at NMDC was recorded as ₹1,385.7 crore by improving 16.4% to miss market consensus of ₹1,672 crore.

EBITDA margin had slumped into the Q2FY25 levels 28.2% where similar Q2 levels last fiscal dipped to 29.7%, and again remained below market forecast of 35.7%. Despite all the mentioned above challenges, NMDC strives for steady-curve growth in production and maintain the production level, besides following the market competition. This trend depicts that all efforts were not futile to resist market volatility along with its satisfactory performance.