NMDC Limited has announced its financial results for the fiscal year 2023-24, approved by the Board of Directors under the Chairmanship of CMD (Additional Charge) Amitava Mukherjee during a meeting held on May 27.
The company achieved unprecedented volumes, producing 45.02 million tonnes and selling 44.48 million tonnes of iron ore in FY’24. This marked a 10% increase in production and a 16% increase in sales compared to FY23, making NMDC the first mining company in India to surpass the 45 million tonnes milestone in iron ore production.
NMDC’s financial performance mirrored its remarkable physical output. The company reported a turnover of Rs 21,294 crores, a 21% increase from Rs 17,667 crores in the corresponding period last year (CPLY).
Key financial highlights include a Profit Before Tax (PBT) before exceptional items of Rs 8,294 crores in FY’24, reflecting a 30% growth over the Rs 6,399 crores reported in FY’23. However, an exceptional expenditure of Rs 282 crore in FY’24 and an exceptional income of Rs 1,237 crore in the CPLY (including proceeds from the Monitoring Committee and sale of NINL investments) resulted in only a 5% increase in PBT after exceptional items. The company’s Profit After Tax (PAT) stood at Rs 5,632 crores, a 2% rise compared to Rs 5,529 crores in FY’23.
NMDC’s robust performance underscores its leading position in the mining industry and its continued growth trajectory.
