NMDC reported a 48.90 percent increase in standalone profit after tax (PAT) at ₹886.53 crore for the quarter ended December 2017 as compared to ₹595.16 crore in the corresponding period last year, the company said in a BSE filing.
The standalone revenue from operations declined marginally to ₹2,469.03 crore as compared to ₹2,497.86 from the year ago period.
The company’s iron ore production during Q3 stood at 8.56 million ton (mt) decreasing by 12 percent and sales stood at 8.06 mt decreasing by 20 percent as compared to the corresponding period last year.
The company’s turnover for the nine months ended December 31, 2017 was up 30 percent at ₹7,732 crore against ₹5,958 crore in the corresponding period last year. Profit for nine months was up 30 percent at ₹2,700 crore against ₹2,077 crore in the same period last year.
Iron ore production for nine months rose 3 percent to 24.23 mt against 23.63 mt and sales stood at 25.54 mt, registering a decrease of over 1 percent.
NMDC records 27.87 mt iron ore output in Apr-Jan
Meanwhile, NMDC Ltd has recorded 27.87 million tons of iron ore production and sales volume of 28.89 million tons as on AprilJanuary, 2017-18, the company said in a BSE filing.
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Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
