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NMDC performed admirably in first 9 months of FY22

NMDC performed admirably

NMDC performed admirably in the months of FY22

NMDC performed admirably – Hyderabad: India’s largest iron ore producer saw a 125 percent increase in turnover in the first nine months of FY22, to Rs. 19,179 crore, compared to Rs. 8,522 crore in FY21. The nine-month profit before tax (PBT) is Rs.10,101 crore, up 118 percent from the CPLY’s Rs.4,633 crore. The profit after tax (PAT) for the first nine months of FY 22 climbed by 122 percent to Rs.7,583 crore, up from Rs.3,415 crore in the first nine months of FY 21. 
 
In the third quarter of FY22, NMDC produced 10.65 million tonnes (MT) of iron ore and sold 9.85 million tonnes (MT). For the first three quarters, total output and sales were 28.33 MT and 28.28 MT, respectively. 
 
The above operational and financial metrics represent NMDC‘s best nine-month performance ever. NMDC declared a 2nd Interim Dividend of Rs 5.73 per share at its Board Meeting on February 8, 2022. Taking into account the first Interim Dividend of Rs 9.01 per share declared at the previous Board meeting, the total payout declared per share for FY 2021-2022 is Rs 14.74, which is the largest dividend given in NMDC’s history. The total cash outflow for dividends is Rs 4,320 crore. 
 
“This outstanding result was achieved on the strength of higher output during trying circumstances and should reach the production target this fiscal,” said Shri Sumit Deb, CMD, NMDC. We remain dedicated to completing key capex projects, as well as the digitalization and automation of our processes.” 

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