NMDC sells 32.36 million tonnes of iron ore

Hyderabad, May 30:
NMDC has produced and sold 32.36 million tonnes of iron ore during 2018-19 against production of 35.58 million tonnes and sales of 36.08 million tonnes during previous year. The company’s turnover for the year 2018-19 is Rs.12,153 cr against Rs.11,615 cr during 2017-18, registering a growth of 5%. NMDC’s Profit Before Tax (PBT) for the year 2018-19 is Rs.7,198 cr against Rs.6,179 cr during
2017-18, registering an impressive growth of 17%. Similarly Profit After Tax (PAT) for the year 2018-19 is Rs.4,642 cr against Rs.3,806 cr during 2017-18, registering a record growth of 22%. NMDC’s turnover during the 4th quarter is Rs.3,643 Cr comparable with turnover at Rs.3,883 Cr of CPLY. NMDC has recorded Profit Before Tax (PBT) of Rs.2,197 Cr and Profit After Tax (PAT) of
Rs.1,454 Cr which are higher by around 10% & 31% respectively over 4th quarter of CPLY. The Company’s production of iron ore during the 4th quarter is 10.59 million tonnes (MT) registering a decrease of 7% over CPLY while sales of iron ore was 10.17 MT which is about 3% less than that of the CPLY. The Audited Financial Results for the year 2018-19 were approved by the Board of Directors of the Company under the chairmanship of N. Baijendra Kumar, IAS in its meeting held on 28.05.2019.

N. Baijendra Kumar, IAS, CMD, NMDC congratulated all the employees for their commitment, hard work and excellent efforts. These results definitely displayed NMDC’s strong character to bounce back in spite of operational challenges. He thanked all the stakeholders for their support and specially thanked Ministry of Steel (GoI) and Chhattisgarh State Government for their support and guidance.

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