Latest news with #AmitavaMukherjee
Mint
7 days ago
- Business
- Mint
NMDC share price falls 3% after Q4 results. Should you buy, sell, or hold?
NMDC share price in focus: Continuing their bearish trend for the second consecutive trading session, shares of NMDC, India's largest iron ore producer, fell another 3% in intraday trade on Wednesday, May 28, to ₹ 70.65 apiece, as investor sentiment turned negative following the release of the company's March quarter results. The company, post market hours on Tuesday, reported a 5% rise in consolidated net profit to ₹ 1,483 crore for the March quarter, driven by higher iron ore and pellet sales revenue. In the same period of the previous fiscal year, the company had posted a net profit of ₹ 1,415 crore. NMDC's total income rose by around 9 per cent to ₹ 7,497.17 crore in the last quarter of FY25 from ₹ 6,908.37 crore in Q4 FY24. Iron ore sales were 6,350.49 crore while pellet along with other minerals contributed ₹ 662.07 crore. For the full FY25 fiscal, the net profit increased by over 17 per cent to ₹ 6,538.82 crore from ₹ 5,571.25 crore in FY24. Total income rose to ₹ 25,498.84 crore from ₹ 22,678.73 crore in the corresponding fiscal. NMDC's iron ore prices averaged at ₹ 4,206, lower than the average of ₹ 4,299 a year earlier, according to data from JM Financial Institutional Securities. The company had announced a price cut in January, according to commodities consultancy BigMint. JSW Steel, which primarily procures iron ore from NMDC, said earlier this month that a further drop in iron ore prices is expected in the first quarter of the ongoing fiscal year. Revenue from its iron ore vertical fell nearly 2% during the quarter. The Board of Directors of the Company has proposed a final dividend of ₹ 1 per share subject to approval of shareholders. In addition, the first interim dividend of Rs. 2.30 per equity share for FY 2024-25 has been paid. Commenting on the financial performance Amitava Mukherjee, Chairman and Managing Director, NMDC, stated, 'Our focus has always been on consistent, year-on-year progress to reach the final milestone of 100 MTPA in the next five years. What matters is that we stay on track and keep building on our momentum. The initiatives we've undertaken in recent years are now translating into tangible results, and that gives us confidence in the direction we're headed.' In the ongoing quarter, the focus remains on innovation, sustainability, and value creation to remain on track to achieve long-term targets, he said. As per the company, its quarterly iron ore production was at 13.31 million tonne (MT) and sales at 12.67 MT. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
27-05-2025
- Business
- Mint
NMDC Q4 Results: Net profit rises 5% to ₹1,483 crore, revenue up 8% YoY; Dividend declared
State-owned miner NMDC on Tuesday reported a fall in fourth-quarter profit, hurt by lower product prices. The iron ore miner's quarterly profit before exceptional items and tax came in at ₹ 1,483 crore, down 4.8 per cent from a year ago. Its profit including tax rose 2% for the January-March quarter due to lower tax expenses. State-run NMDC on Tuesday reported a 5 per cent growth in consolidated net profit to ₹ 1,483.18 crore in the March quarter, driven by higher iron ore and pellets sales revenue. It had posted a net profit of ₹ 1,415.62 crore in the fourth quarter of 2023-24, the company said in an exchange filing. NMDC's total income rose by around 9 per cent to ₹ 7,497.17 crore in the last quarter of FY25 from ₹ 6,908.37 crore in Q4 FY24. Iron ore sales were 6,350.49 crore while pellet along with other minerals contributed ₹ 662.07 crore. For the full FY25 fiscal, the net profit increased by over 17 per cent to ₹ 6,538.82 crore from ₹ 5,571.25 crore in FY24. Total income rose to ₹ 25,498.84 crore from ₹ 22,678.73 crore in the corresponding fiscal. The Board of Directors of the Company has proposed a final dividend of ₹ 1 per share subject to approval of shareholders. In addition, the first interim dividend of Rs. 2.30 per equity share for FY 2024-25 has been paid. Amitava Mukherjee, Chairman and Managing Director, NMDC, stated, "Our focus has always been on consistent, year-on-year progress to reach the final milestone of 100 MTPA in the next five years. What matters is that we stay on track and keep building on our momentum. The initiatives we've undertaken in recent years are now translating into tangible results, and that gives us confidence in the direction we're headed." In the ongoing quarter, the focus remains on innovation, sustainability, and value creation to remain on track to achieve long-term targets, he said. As per the company, its quarterly iron ore production was at 13.31 million tonne (MT) and sales at 12.67 MT. NMDC's iron ore prices averaged at 4,206 rupees, lower than the average of 4,299 rupees a year earlier, according to data from JM Financial Institutional Securities. The company had announced a price cut in January, according to commodities consultancy BigMint. JSW Steel, which primarily procures iron ore from NMDC, said earlier this month that a further drop in iron ore prices is expected in the first quarter of the ongoing fiscal year.
Economic Times
04-05-2025
- Business
- Economic Times
NMDC posts record 15% rise in iron ore production in April; sales grow 3%
NMDC saw a 15% increase in iron ore production in April. Sales also grew by 3%. Kirandul, Bacheli, and Donimalai mines showed strong performance. Pellet production reached a record high. NMDC aims to become a 100 MT mining company by 2030. NMDC Steel Limited reported growth in hot metal production. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads State-owned NMDC has reported a 15 per cent rise in its iron ore production and 3 per cent growth in sales of the mineral in April. In a statement on Sunday, NMDC said it produced 4 million tonnes (MnT) iron ore in April, higher from 3.48 MnT in same month last sold 3.63 MnT iron ore last month, up from 3.53 MnT in April 2024. NMDC CMD Amitava Mukherjee said, "Our record-breaking April performance, coupled with best-ever despatch figures from our major iron ore mines -- Kirandul, Bacheli, and Donimalai -- with a growth of 12 per cent, 4 per cent and 88 per cent, respectively over CPLY solidifies our leadership position and sets a strong foundation for achieving our ambitious target of becoming 100 MT mining company by 2030."The company's pellet production soared to an all-time high of 0.23 lakh tonnes, surpassing the previous April record set in the Ministry of Steel, NMDC is India's largest iron ore producing NMDC Steel Limited (NSL), a demerged entity from NMDC, said it has reported an 8.5 per cent month-on-month growth in its hot metal production to 2,30,111 tonnes in April compared from 2,11,978 tonnes produced in 3-million tonne Nagar Steel Plant in Chattisgarh, which is termed as India's youngest steel unit, was set up at a cost of Rs 24,000 crore.
Time of India
04-05-2025
- Business
- Time of India
NMDC posts record 15% rise in iron ore production in April; sales grow 3%
State-owned NMDC has reported a 15 per cent rise in its iron ore production and 3 per cent growth in sales of the mineral in April. In a statement on Sunday, NMDC said it produced 4 million tonnes (MnT) iron ore in April, higher from 3.48 MnT in same month last year. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad NMDC sold 3.63 MnT iron ore last month, up from 3.53 MnT in April 2024. NMDC CMD Amitava Mukherjee said, "Our record-breaking April performance, coupled with best-ever despatch figures from our major iron ore mines -- Kirandul, Bacheli, and Donimalai -- with a growth of 12 per cent, 4 per cent and 88 per cent, respectively over CPLY solidifies our leadership position and sets a strong foundation for achieving our ambitious target of becoming 100 MT mining company by 2030." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brought to you by Undo The company's pellet production soared to an all-time high of 0.23 lakh tonnes, surpassing the previous April record set in 2018. Under the Ministry of Steel, NMDC is India's largest iron ore producing entity. Live Events Meanwhile, NMDC Steel Limited (NSL), a demerged entity from NMDC, said it has reported an 8.5 per cent month-on-month growth in its hot metal production to 2,30,111 tonnes in April compared from 2,11,978 tonnes produced in March. NSL's 3-million tonne Nagar Steel Plant in Chattisgarh, which is termed as India's youngest steel unit, was set up at a cost of Rs 24,000 crore.
Time of India
04-05-2025
- Business
- Time of India
NMDC posts record 15 pc rise in iron ore production in April; sales grow 3 pc
State-owned NMDC has reported a 15 per cent rise in its iron ore production and 3 per cent growth in sales of the mineral in April. In a statement on Sunday, NMDC said it produced 4 million tonnes (MnT) iron ore in April, higher from 3.48 MnT in same month last year. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad NMDC sold 3.63 MnT iron ore last month, up from 3.53 MnT in April 2024. NMDC CMD Amitava Mukherjee said, "Our record-breaking April performance, coupled with best-ever despatch figures from our major iron ore mines -- Kirandul, Bacheli, and Donimalai -- with a growth of 12 per cent, 4 per cent and 88 per cent, respectively over CPLY solidifies our leadership position and sets a strong foundation for achieving our ambitious target of becoming 100 MT mining company by 2030." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10 Mysterious Photos That Cannot Be Explained True Edition Undo The company's pellet production soared to an all-time high of 0.23 lakh tonnes, surpassing the previous April record set in 2018. Under the Ministry of Mines, NMDC is India's largest iron ore producing entity. Live Events Meanwhile, NMDC Steel Limited (NSL), a demerged entity from NMDC, said it has reported an 8.5 per cent month-on-month growth in its hot metal production to 2,30,111 tonnes in April compared from 2,11,978 tonnes produced in March. NSL's 3-million tonne Nagar Steel Plant in Chattisgarh, which is termed as India's youngest steel unit, was set up at a cost of Rs 24,000 crore.
