Business

NMDC needs to be geared up for opportunities coming by March 2020- N. Baijendra Kumar

Raipur. During the 2nd quarter NMDC received “Innovative Stakeholders Interface” award at the SCOPE Corporate Excellence Awards 2019. NMDC also bagged “Best Supporting Organization to Quality Circle Movement” Award organized by Quality Circle Forum of India (QCFI).
Shri N. Baijendra Kumar, IAS, CMD, NMDC said these results are impressive considering the challenges faced in recent times. He emphasized that NMDC needs to gear-up for opportunities coming its way post March 2020 and should work on an aggressive growth plan to meet the demand of domestic iron and steel industry especially.

• Iron ore production quantity (Q2) 5.00 MT H1 13.43 MT
• Sales of iron ore quantity (Q2) 5.82 MT H1 14.48 MT
• Sales Turnover (Q2) Rs.2,242 crore H1 5,505 crore
• Profit Before Tax (Q2) Rs.1,080 crore H1 2,993 crore
• Profit After Tax (Q2) Rs.703 crore H1 1,883 crore
The half year performance (H1) of 2019-20 has witnessed a growth both in physical and financial performances over CPLY.
Iron ore production in H1 is 13.43 MT against 12.24 MT in H1 of 2018-19, registering a growth of 10%. Similarly, iron ore sales has increased from 13.48 MT in H1 of 2018-19 to 14.49 MT in H1 of 2019-20, witnessing a growth of 7%.
The sales turnover for the H1 of 2019-20 is Rs.5,505 crore which is 13% higher than the CPLY which was Rs.4,860 crore.
PBT & PAT for H1 of 2019-20 is Rs.2,993 Crore and Rs.1,883 Crore respectively which is 7% and 17% more than H1 of 2018-19, i.e. Rs.2,790 Crore and Rs.1,612 Crore respectively.

NMDC’s performance in Q2 of 2019-20 against CPLY has marginally declined except for PAT which is up by 10.5%.
• Iron ore production quantity (Q2) 5.00 MT Vs 5.26 MT in 2018-19
• Sales of iron ore quantity (Q2) 5.82 MT Vs 6.70 MT in 2018-19
• Sales Turnover (Q2) Rs.2,242 crore Vs 2,438 crore in 2018-19
• Profit Before Tax (Q2) Rs.1,080 crore Vs 1,313 crore in 2018-19
• Profit After Tax (Q2) Rs.703 crore Vs 636 crore in 2018-19

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