NMDC Soars with 29% Profit Hike in Q3

State-owned NMDC reported a 29% rise in consolidated net profit, reaching Rs 1,896.66 crore in Q3 of FY25. Driven by higher income, the company's total income increased by 21%, with production and sales also climbing. NMDC remains on a strong growth trajectory despite challenges.

State-owned mining giant NMDC has announced a robust 29% surge in consolidated net profit, totaling Rs 1,896.66 crore for the October-December quarter of FY25, primarily fueled by enhanced income. The notable increase comes on the heels of a profit of Rs 1,492.73 crore in the corresponding period of the previous fiscal year.

For the third quarter, NMDC's total income witnessed a 21% jump to Rs 6,942.92 crore, compared to Rs 5,746.47 crore a year prior, as detailed in an exchange filing. The company's production rose by 9% to 13.29 million tonnes (MT), while sales saw a 5% uptick, reaching 11.94 MT compared to the previous year's Q3FY24 figures.

Amitava Mukherjee, NMDC's CMD, stated the corporation has entered Q4 of FY25 with robust momentum, overcoming the financial year's challenges to maintain a positive growth trajectory. The company's profit for the April-December period increased by 22% to Rs 5,055.64 crore. Hyderabad-based NMDC, under the Ministry of Steel, remains India's top iron ore mining firm, supplying around 20% of the national demand for steel-making raw materials.