NMDC's iron ore sales increased by 13.83% in September

India's state-owned mining company NMDC reported that iron ore production increased by 1.33% to 3.04 million tons in September 2024 from 3 million tons in September 2023. In the same month, iron ore sales increased by 13.83% to 3.54 million tons, compared to 3.11 million tons in September 2023.

NMDC is India's largest iron ore producer, operating three fully mechanized mines, two in Chhattisgarh and one in Karnataka, with an annual production capacity of around 35 million tons. As of June 2024, the Government of India holds a 60.79% stake in the company.

In financial terms, NMDC's net profit from continuing operations increased by 20.25% to Rs 1,984.19 crore (approximately USD 239.1 million) in the first quarter of 2024-25 from Rs 1,650.07 crore (approximately USD 197.5 million) in the first quarter of 2023-24. On the other hand, income from operations amounted to Rs 5,377.80 crore (approximately USD 645 million) in the June quarter, a slight decline compared to Rs 5,394.66 crore (approximately USD 646 million) in the same quarter of the previous fiscal year.