State-owned National Mineral Development Corporation (NMDC) reported an increase in iron ore output and sales by 13pc and 14pc to 5.63mn mt and 6.602mn mt, respectively, in Q2 of FY2021. In Q2 FY2020, production and sales were at 5mn mt and 5.81mn mt, respectively, according to a company release.
Output, however, dropped by 15pc from 6.27mn mt in the prior quarter.
Of the total sales, domestic sales accounted for 6.16mn mt, up by 16pc over the prior year, and exports amounted to 4.33mn mt, down by 16pc.
NMDC posted a net profit of Rs7.74bn in Q2, up by 10pc from the prior year. The company’s EBITDA declined by 6pc to Rs11.18bn from 11.88bn in the preceding year.