Hyderabad, November 11, 2020 (GPN): NMDC, the country’s largest Iron Ore producing Navratna Company delivered another strong operating performance, with a 13% and 14% increase in production and sales respectively in the second quarter of FY21. Inspite of adversities due to COVID and incessant monsoon in Chhattisgarh, NMDC has been able to outperform both production and sales over the CPLY. In this quarter, NMDC produced 5.64 million tonnes (MT) of iron ore and sold 6.60 million tonnes (MT).

NMDC’s turnover during the 2nd quarter of 2020-21 is Rs. 2230 crore as against the turnover of
Rs. 2242 crore of the CPLY. NMDC’s Profit Before Tax (PBT) for the Q2 of 2020-21 is Rs. 1063 crore against Rs. 1080 crore during Q2 of 2019-20, a decrease by 2%. Profit After Tax (PAT) for Q2 of 2020-21 increased by 10% to Rs.774 crores against Rs. 703 crores during Q2 of 2019-20.

In a comparison of Q2 with Q1 of FY21, NMDC has shown growth in:

·         Sales of Iron ore by 5%

·         Turnover by 15%

·         PBT by 40%

·         PAT 45%

·         EBITDA by 35%

Particulars	Q2 of CY Vs Q2 of PY	Q2 of CY Vs Q1 of CY
Production (MT) Sales (MT) Turnover (Rs. In Crore) PBT (Rs. In Crore) PAT (Rs. In Crore) EBIDTA (Rs. In Crore)	5.64 6.60 2230 1063 774 1118	5.01 5.82 2242 1080 703 1188	5.64 6.60 2230 1063 774 1118	6.61 6.28 1938 759 533 826

Domestic production of iron ore is down by around 47% in 2020-21 (H1) when compared with CPLY, whereas NMDC has been able to outperform the industry and had a drop of only 9%. NMDC has produced around 16% of India’s total iron ore production in (H1) of 2020-21.

Shri Sumit Deb, CMD, NMDC expressed satisfaction at the overall results and said that “NMDC’s production continued without interruption despite the adverse situations we faced, providing for yet another strong operating quarter due to our realigned strategy and focus on optimum utilization of resources.” “At NMDC, we have taken various steps to reduce costs, improve output and maximize the profitability with and are hoping to excel in the next two quarters and set new records in production.” ENDS