NMDC slides as Q2 PAT falls 62% YoY to Rs 889 cr

15 Nov 2022 , 10:02 AM

Revenue from operations was at Rs 3,328.45 crore for the quarter ended 30 September 2022 as against Rs 6,793.51 crore during the same period in the previous year, registering a decline of 51%. Profit before tax stood at Rs 1,188.17 crore in Q2 FY23, down by 62.2% from Rs 3,142.09 crore in Q2 FY22. However, total expenditure skid 31.38% to Rs 2,566.28 crore in the quarter ended September 2022. EBITDA slumped 60% to Rs 1,280 crore in Q2 FY23 from Rs 3,203 crore recorded in the corresponding period last year. EBITDA margin declined to 38% in quarter ended September 2022 from 47% posted in the year ago period. On the operational front, iron ore production fell 19% to 71.08 lakh tones in Q2 FY23 from 87.70 lakh tones reported in Q2 FY22. Iron ore sales declined 6% to 84.32 lakh tones in the first quarter as compared to 89.85 lakh tones posted in the same period last year. Average sales realisation slipped 48% year on year to Rs 3,890 per ton in Q2 FY23 from 7,443 per ton recorded in the corresponding quarter previous year. NMDC is Indias single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of 30 September 2022, the Government of India held 60.79% stake in the firm.Powered by Capital Market – Live News