NMDC Records Best Ever May Month Performance

Hyderabad, 1 June 2023: State Miner NMDC produced 3.71 MnT and bought 3.62 MnT of iron ore within the second month of FY24, recording the very best ever May month manufacturing and gross sales in firm historical past.

Registering an upswing of 16% in manufacturing and 37% in gross sales over CPLY, NMDC has made a powerful begin to the fiscal. Country’s largest iron ore producer has achieved its finest ever April and May performances since inception in FY24.

NMDC’s cumulative manufacturing and gross sales in FY24 witnessed a 13.7% and 22% development respectively. In the primary two months of the monetary 12 months, the corporate produced 7.22 MnT and bought 7.05 MnT iron ore.

Commenting on this efficiency, Shri Amitava Mukherjee, CMD (Additional Charge) mentioned on Wednesday that “India’s quantity of iron ore manufacturing has been predicted to develop by about 10% in FY24. As the biggest contributor to this quantity, NMDC has set the momentum proper with report manufacturing and gross sales at first of FY24. Our funding in new age tech and digitalization is paying wealthy dividends to the corporate and the trade.”