NMDC's best results as iron ore output up 10% in FY24; sales rise 16%: CMD

NMDC Limited, India’s largest iron ore producer, has reported its best-ever yearly performance in FY24, with a 10% increase in iron ore production and a 16% rise in sales. The company produced 45.02 million tonnes of iron ore and sold 44.48 million tonnes, resulting in a revenue of Rs 21,294 crore, a 21% increase from the previous year. NMDC’s strong financial performance is attributed to effective financial planning and pricing mechanisms, leading to a profit after tax (PAT) of Rs 5,632 crore. The company’s EBITDA stood at Rs 8,709 crore, representing a 28% growth from the previous year. NMDC’s highest-ever capital expenditure of Rs 2,066 crore was directed towards capacity building, reinforcing its financial stability and growth potential.