Q3 Results- NMDC Ltd reported consolidated net profit at ₹1,896.66 during the quarter ending December 2024 marked a sharp rise of 29.05 % compared to ₹1,469.73 crore reported during the same quarter last year
The country’s largest and state owned iron-ore producer saw its revenues from operations at ₹6,567.83 crore in Q3FY24 rise strong 21% year on year over ₹5,409.90 reported during Q4FY24.
On a sequential basis the revenues from operations during Q3 at ₹6567.83 crore saw sharper rise of 33.5% over ₹4918.91 crore reported during Q2. Nevertheless the July to September remains seasonally weak impacted by the onset of monsoon that impacts mining operations,
The net profit during Q3 also grew at a faster pace of 58.6% over ₹1195.63 crore seen during the previous quarter
NMDC Iron Ore sales that contribute majority to overall revenues at ₹6,434.17 during Q3 grew 20% compared to ₹5,364.57. The pellet sales at ₹169.13 Crore during the December 2024 quarter nevertheless almost doubled compared to ₹78.81 crore seen during the December 2023 quarter
However on profitability from Iron ore Earnings before interest and tax (EBIT) at ₹2,566.69 grew sharper 36% compared to ₹1,887.46 crore in the year ago quarter. The value added Pellet EBIT though declined as it reported loss of ₹76.25 crore compared to a loss of ₹33.17 Crore in the year ago quarter
The iron ore price have remained supportive and NMDC took two price hikes for its produce during October 2024.
The steel demand also remains strong in the country and same is driving the iron-ore demand. The NMDC steel sales during the quarter at close to 12.5 million tonne have grown 10% year on year over 11.4million tonne during the year ago quarter
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