The National Mineral Development Corporation (NMDC) Limited has produced and sold 32.36 million tonnes of iron ore during 2018-19 against production of 35.58 million tonnes and sales of 36.08 million tonnes during the previous year.
The Company’s turnover for the year 2018-19 is Rs.12,153 crore against Rs.11,615 crore during 2017-18, registering a growth of 5%, according to an NMDC press release.
The NMDC’s profit before tax (PBT) for the year 2018-19 is Rs.7,198 crore against Rs.6,179 crore during 2017-18, registering an impressive growth of 17%. Similarly profit after tax (PAT) for the year 2018-19 is Rs.4,642 crore against Rs.3,806 crore during 2017-18, registering a record growth of 22%.
The NMDC’s turnover during the 4th quarter is Rs.3,643 crore comparable with turnover at Rs.3,883 crore of CPLY. The NMDC has recorded PBT of Rs.2,197 crore and PAT of Rs.1,454 crore, which are higher by around 10% and 31%, respectively over 4th quarter of CPLY.
The Company’s production of iron ore during the 4th quarter is 10.59 million tonnes (MT) registering a decrease of 7% over CPLY while sales of iron ore was 10.17 MT which is about 3% less than that of the CPLY.
The audited financial results for the year 2018-19 were approved by the Board of Directors of the company under the chairmanship of N. Baijendra Kumar in its meeting held on Tuesday (May 28).
Kumar, the CMD of the NMDC congratulated all the employees for their commitment, hard work and excellent efforts.
“These results definitely displayed NMDC’s strong character to bounce back in spite of operational challenges,” Kumar said.
He thanked all the stakeholders for their support and specially thanked Ministry of Steel and Chhattisgarh State Government for their support and guidance.