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NMDC's Q4 net up 7-fold at 2,838 crore
The NMDC mines in Donimalai (File photo)
NMDC, India’s largest iron ore producer, recorded a whopping 708 per cent growth in profit after tax (PAT) for the quarter ended March 31, 2021, at Rs 2,838 crore compared to Rs 351 crore during the previous corresponding quarter.
Hyderabad: NMDC, India's largest iron ore producer, recorded a whopping 708 per cent growth in profit after tax (PAT) for the quarter ended March 31, 2021, at Rs 2,838 crore compared to Rs 351 crore during the previous corresponding quarter. During the fourth quarter of the 2020-21 financial year, the turnover rose to Rs 6,848 crore from Rs 3,187 crore in the same quarter in FY20.
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 forecasts suggest the global rally in the sector will continue in FY 2022 giving the company confidence to achieve our targets for FY22, while pushing certain exciting initiatives that will bring in lasting improvement to efficiency and performance."
NMDC produced 34.15 million tonnes and sold 33.25 million tonnes of iron ore during the financial year 2020-21 up eight per cent and six per cent respectively compared to FY 2019-20. NMDC's turnover for FY 2020-21 is Rs 15,370 crore against Rs 11, 699 crore during FY 2019-20, registering a growth of 31 per cent.
