Largest Iron Ore Producer - NMDC Posted 125% Growth in First Nine Months of FY22

The largest iron ore producer of India, National Mineral Development Corporation (NMDC), under Ministry of Steel registered a 125% growth in turnover of Rs.19,179 crore for the first nine months of FY22 compared to Rs. 8,522 crore achieved during FY21.

Profit Before Tax (PBT) for the nine months is Rs.10,101 crore reflecting a growth of 118% against the Rs.4,633 crore for the CPLY. Profit After Tax (PAT) for the
9 months of FY 22 increased to Rs.7,583 crore which is 122% over Rs.3,415 crore reported during the first nine months of FY 21.

NMDC produced 10.65 million tonnes (MT) and sold 9.85 million tonnes (MT) of iron ore in the third quarter of FY22.  Cumulative production and sale figures for the first three quarters stood at 28.33 MT and 28.28 MT respectively. Above operational and financial figures are the strongest nine months performance in NMDC’s history.

NMDC in its Board Meeting held on 08.02.2022 declared 2^nd Interim Dividend of
Rs 5.73 per share. Considering the first Interim Dividend of Rs 9.01 per share in its earlier Board meeting, the total dividend declared per share is Rs 14.74 for the FY 2021-2022 which is the highest dividend declared in the history of NMDC. Total Cash Outgo on account of Dividend is Rs 4,320 cr.

Commenting on the performance, Shri Sumit Deb, CMD, NMDC said, “This strong performance was achieved on the back of enhanced production under challenging times and should reach the production target this fiscal. We continue to be committed to completing important capex projects and the digitalisation and automation of our operations.”

Performance of the current Quarter with Q3 of previous year and Q2 of current year, with the numbers of current year v/s previous year (nine months ended) are: