NMDC’s iron ore production rises 23% YoY to 42.15 MT in FY 2022




National Mineral Development Corporation Limited (NMDC), the country’s largest producer, said on Saturday its production increased by 23 per cent year-on-year to reach 42.15 million tonnes (MT) in the financial year ended March 31, 2022.


The company’s sales increased by 22 per cent to 40.70 MT during fiscal 2021-22. is a central public sector enterprise under the Ministry of Steel.





In the fourth quarter of the financial year ended March 31, 2022, the company’s production grew by 12 per cent to 13.84 MT, while the company sales rose to 12.34 MT, posting a year-on-year increase of 12 per cent.


reported production of 4.98 MT and sale of 4.21 MT for the month of March 2022. Production increased by 9 per cent while sales rose by 3 per cent in March year-on-year. This is the highest production and sales numbers for any March month in company history.


has achieved a record-breaking physical performance for FY22 on the back of a propelling expansion and investment strategy, we are entering the new fiscal with a valuable head start. Our digitalisation drive is beginning to contribute to our improved performance and we are excited to see this transformation in how we do business and share the benefits with our stakeholders,” NMDC’s chairman and managing director Sumit Deb said in a statement.


“As the Government of India seeks to ramp up the domestic per capita steel consumption in our country, NMDC will take on an enhanced role to strengthen raw material supply and give impetus to self-reliance in the sector,” he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *