NMDC’s production up 37% in Q3

NMDC’s production of iron ore during the third quarter ended December 31 increased 37 per cent to 73 lakh tonnes compared to 53.32 lakh tonnes in the year-ago period. Iron ore despatches grew 40 pc at 74 lakh tonnes (53.10 lakh tonnes), the Hyderabad-based company said in a release. The growth was driven by favourable market conditions. Iron ore production during the quarter was 23 per cent higher than the second quarter of the current fiscal. According to C.S. Verma, CMD of NMDC, the company had geared up to not only sustain the increase in production but also improve its performance further in Q4 to meet the rising demand of the steel industry.