NMDC Achieves Strong Q1 FY’25 Financial Performance
|
|
Q1 FY24 |
Q1 FY23 |
Growth % |
|
Profit Before Tax (Rs. in crores) |
2628 |
2201 |
19% |
|
Profit After Tax (Rs. in crores) |
1984 |
1650 |
20% |
|
EBITDA (Rs. in crores) |
2725 |
2276 |
20% |
Bengaluru – August 13, 2024: India’s largest iron ore producer NMDC has announced its Q1 FY’25 Financial Results. The company reported a net profit of 1,984 crore for the quarter, marking a significant achievement in its ongoing growth trajectory.
The company recorded a turnover of Rs. 5,378 crore, with Profit After Tax (PAT) at Rs 1,984 crore, and EBITDA of Rs. 2,725 crore in the first quarter of this financial year. This remarkable performance reflects an upswing of EBITDA of 2,725 crore, up by 20% over CPLY.
Commenting on the company’s results, Shri Amitava Mukherjee, CMD (Addl. Charge) said, “NMDC’s unwavering commitment to nation-building is reflected in our strong performance this quarter. This is a good start to the fiscal year as reflected in our Q1 earnings. Our strategic focus on technological innovation and operational excellence has driven remarkable results, positioning us as a cornerstone in the industry. Buoyed by this momentum, we are on track to achieve a production target of 50 MnT by the end of FY25, further contributing to the country’s economic growth.”
NMDC’s strong financial Q1 performance underscores its commitment to scaling new heights in the mining sector, further strengthening its position as the largest iron ore producer of India.
