NMDCs best ever quarterly financial performance

Hyderabad, Jun 23: India’s largest iron ore producer, NMDC has produced 34.15 million tonnes and sold 33.25million tonnes of iron ore during the financial year 2020-21. This is an 8% growth in production and 6% in sales from the 31.49 million tonnes produced and 31.51 million tonnes sold during FY 2019-20, achieved in an undoubtedly challenging year. NMDC’s turnover for FY 2020-21 is Rs 15,370crore against Rs11,699 crore during
FY 2019-20, registering a growth 31%. During the 4th quarter of the financial year turnover stood at Rs 6,848 crore compared to Rs 3,187 crore in the CPLY. The company achieved a record turnover for the 4th Quarter and also in Annual Turnover, both are highest since inception.
Profit before Tax (PBT) for FY 2020-21 is Rs 8,902, a 45% increase from the Rs6,122crore during FY 2019-20. Profit after Tax (PAT) at Rs 6,253for FY 2020-21 similarly reflects a growth of 73% from the Rs3,610 crore achieved in FY 2019-20.
NMDC recorded Profit before Tax (PBT) of Rs 4,269 crore and Profit after Tax (PAT) of Rs 2,838crore in the 4thquarter of FY21, a 188%&708% respective growth over the 4th quarter of CPLY. The company has registered highest ever PBT & PAT both in any quarter since inception.
The company achieved a production of 12.31 million tonnes (MT) iron ore during the Q4 quarter as against 9.47 MT in the CPLY a30% growth, while realising a 29% growth in sales of iron ore 11.09 MT compared to 8.62 MT during the 4th quarter of FY 2019-20, which is best ever production and sales figures not only for 4th Quarter but also for any quarter since inception.
The Audited Financial Results for the year 2020-21 were approved by the Board of Directors of the company under the chairmanship of Sumit Deb, CMD, NMDC in its meeting held on 22.06.2021.
Commenting on the impressive performance, Sumit Deb, CMD, NMDC said, “This has been an excellent year for the iron and steel sector and it gives me great pride to share these impressive results achieved by Team NMDC, in a year that has been challenging for the economy more than one reason. All forecast suggests the global rally in the sector will continue in FY 2022 giving us confidence to achieve our targetsfor FY 2022 while pushing certain exciting initiativesthat will bring in lasting improvement to efficiency and performance.” I congratulate all the stakeholders of the company especially the employees who have relentlessly put their best efforts in these difficult times for this great performance.