NMDC Q1 Net Profit Rises to Rs 2,005.71 Cr on Iron Ore Sales
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State-owned NMDC reports a 2% rise in Q1 consolidated net profit to Rs 2,005.71 crore, driven by strong iron ore sales. Learn about their FY27 performance.
New Delhi, Aug 14 (PTI) State-owned NMDC on Friday posted a two per cent rise in consolidated net profit to Rs 2,005.71 crore in the June quarter, supported by a growth in revenues from iron ore sales.
The company had clocked a net profit of Rs 1,967.46 crore in the same quarter a year ago, according to a regulatory filing.
During April-June, the company increased its total income to Rs 7,142.54 crore, up 1.5 per cent from Rs 7,038.97 crore in the first quarter of the preceding 2025-26 fiscal.
NMDC said it earned revenue of Rs 6,802.12 crore from iron ore sales, around 10 per cent higher from Rs 6,199.15 crore in April-June FY26.
As of June 30, 2026, trade receivables from Rashtriya Ispat Nigam Ltd (RINL), primarily on account of iron ore and pellets supplies, amounted to Rs 4,712.47 crore.
Sharing details of the proposed 3 MT steel project in Karnataka through its arm NMDC said: "It has (already) paid an advance of Rs 639.61 crores to Karnataka Industrial Area Development Board (KIADB) towards the cost of 2,857.54 acres of land allotted to its wholly-owned subsidiary, Karnataka Vijayanagar Steel Ltd (KVSL), for setting up a 3 MTPA integrated steel plant."
The land is currently in the possession of KVSL. However, the lease agreement is yet to be executed, it stated.
"We have begun FY27 on a strong footing, with higher production and improved profitability reflecting the resilience of our operations and the discipline of our strategy. The momentum is firmly underway towards achieving our target of 60 million tonnes of production in the current financial year and scaling up to 100 million tonnes by 2030," NMDC CMD Amitava Mukherjee said.
The focus is now on scaling volumes, improving productivity and unlocking greater value from our mineral resources, he said.
In the first quarter of FY27, the company produced 15.12 MT of iron ore, registering a 26 per cent increase from 11.99 MT in Q1 FY26.
Sales stood at 11.73 MT, compared with 11.52 MT in the corresponding quarter of the previous year, marking a year-on-year growth of 2 per cent.
Under the Ministry of Steel, NMDC is India's largest iron ore miner, contributing to the country's 20-25 per cent demand.
The company had clocked a net profit of Rs 1,967.46 crore in the same quarter a year ago, according to a regulatory filing.
During April-June, the company increased its total income to Rs 7,142.54 crore, up 1.5 per cent from Rs 7,038.97 crore in the first quarter of the preceding 2025-26 fiscal.
NMDC said it earned revenue of Rs 6,802.12 crore from iron ore sales, around 10 per cent higher from Rs 6,199.15 crore in April-June FY26.
As of June 30, 2026, trade receivables from Rashtriya Ispat Nigam Ltd (RINL), primarily on account of iron ore and pellets supplies, amounted to Rs 4,712.47 crore.
Sharing details of the proposed 3 MT steel project in Karnataka through its arm NMDC said: "It has (already) paid an advance of Rs 639.61 crores to Karnataka Industrial Area Development Board (KIADB) towards the cost of 2,857.54 acres of land allotted to its wholly-owned subsidiary, Karnataka Vijayanagar Steel Ltd (KVSL), for setting up a 3 MTPA integrated steel plant."
The land is currently in the possession of KVSL. However, the lease agreement is yet to be executed, it stated.
"We have begun FY27 on a strong footing, with higher production and improved profitability reflecting the resilience of our operations and the discipline of our strategy. The momentum is firmly underway towards achieving our target of 60 million tonnes of production in the current financial year and scaling up to 100 million tonnes by 2030," NMDC CMD Amitava Mukherjee said.
The focus is now on scaling volumes, improving productivity and unlocking greater value from our mineral resources, he said.
In the first quarter of FY27, the company produced 15.12 MT of iron ore, registering a 26 per cent increase from 11.99 MT in Q1 FY26.
Sales stood at 11.73 MT, compared with 11.52 MT in the corresponding quarter of the previous year, marking a year-on-year growth of 2 per cent.
Under the Ministry of Steel, NMDC is India's largest iron ore miner, contributing to the country's 20-25 per cent demand.
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