NMDC has recorded a profit of Rs 703 crore for the second quarter ended September 30, 2019, up 10.5 per cent over Rs 636 crore it registered during the corresponding quarter of previous fiscal.
The iron ore mining major logged in lower sales of Rs 2,242 crore in Q2 against Rs 2,438 crore for the corresponding quarter of previous year.
N. Baijendra Kumar, CMD, NMDC said these results are impressive considering the challenges faced in recent times. NMDC needs to gear-up for opportunities coming its way post March 2020 and should work on an aggressive growth plan to meet the demand of domestic iron and steel industry.
FIRST HALF
During first half ended September 2019, the company iron ore production was up at 13.43 mt against 12.24 mt, a growth of 10%. The sales turnover was up 13 per cent at Rs 5,505 crore (Rs.4,860 crore). It logged profit of Rs 1,883 crore, up 17 per cent over Rs 1,612 crore.