NMDC Q4 Profit Rises 5% to Rs 1,483 Cr - Iron Ore Sales Up

New Delhi, May 27 (PTI) State-run NMDC on Tuesday reported a 5 per cent growth in consolidated net profit to Rs 1,483.18 crore in the March quarter, driven by higher iron ore and pellets sales revenue.

It had posted a net profit of Rs 1,415.62 crore in the fourth quarter of 2023-24, the company said in an exchange filing.

NMDC's total income rose by around 9 per cent to Rs 7,497.17 crore in the last quarter of FY25 from Rs 6,908.37 crore in Q4 FY24. Iron ore sales were 6,350.49 crore while pellet along with other minerals contributed Rs 662.07 crore.

For the full FY25 fiscal, the net profit increased by over 17 per cent to Rs 6,538.82 crore from Rs 5,571.25 crore in FY24.

Total income rose to Rs 25,498.84 crore from Rs 22,678.73 crore in the corresponding fiscal.

The Board of Directors of the Company has proposed a final dividend of Rs 1 per share subject to approval of shareholders.

In addition, the first interim dividend of Rs. 2.30 per equity share for FY 2024-25 has been paid.

Amitava Mukherjee, Chairman and Managing Director, NMDC, stated, "Our focus has always been on consistent, year-on-year progress to reach the final milestone of 100 MTPA in the next five years. What matters is that we stay on track and keep building on our momentum. The initiatives we've undertaken in recent years are now translating into tangible results, and that gives us confidence in the direction we're headed."

In the ongoing quarter, the focus remains on innovation, sustainability, and value creation to remain on track to achieve long-term targets, he said.

As per the company, its quarterly iron ore production was at 13.31 million tonne (MT) and sales at 12.67 MT.