Iron ore sales in the month of June 2024 stood at 3.73 MT, registering de-growth of 9.02% as compared to 4.10 MT recorded in the same period a year ago.
Sequentially, the PSU miner's iron ore production jumped by 58.54% and iron ore sales increased by 45.39% in June 2024.
Meanwhile, NMDC also announced a revision in the prices of iron ore. The price of iron ore lumps has been reduced by Rs 500, bringing it to Rs 5,950 per tonne from the previous Rs 6,450 per tonne.
Similarly, the price of iron ore fines has been cut by Rs 500, now stood at Rs 5,110 per tonne compared to the earlier Rs 5,610 per tonne.
NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka. As of March 2024, the Government of India held 60.79% stake in the firm.
The company’s consolidated net profit from continuing operations declined 37.82% to Rs 1,415.88 crore in Q4 FY24 as compared with Rs 2,277.13 crore recorded in same quarter last year. Total income grew 18.24% YoY to Rs 6,908.37 crore in the fourth quarter of FY24.