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NMDC mines higher profit in Q1

NMDC mines higher profit in Q1

New Delhi: NMDC has registered PAT of Rs.975 crore a marginal increase of about 1 per cent over the Q1 of 2017-18 where in the PAT was Rs.969 crore.

NMDC has registered a decrease of 6 per cent in PBT for the first quarter of FY 2018-19 which fell to Rs.1,477 crore (Q1 of 2018-19) from Rs.1,569 crore (Q1 of 2017-18). The Company's sales turnover for the first quarter of 2018-19 is Rs.2,422 crore against Rs.2,842 crore of CPLY registering a fall of about 15 per cent.

The Company's production and sales of Iron Ore during the first quarter of 2018-19 is 6.98 million tonnes and 6.78 million tonnes respectively.

N Baijendra Kumar, IAS, CMD, NMDC expressed that the performance of the Company is satisfactory but urged employees to put in more efforts to catch up with the production and sales targets. Inspite of lot of challenges both in Donimalai and Bailadila Sector, NMDC would be able to excel in the forthcoming quarters.

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