After rally, NMDC stock to price in positives

NMDC, the country's largest ironore miner, posted a consolidated revenue in the January-March quarter of FY24.

- DEVANGSHU DATTA

This was in line with estimates at ₹6,500 crore, which was up 11 per cent year-onyear (Y-o-Y), and a 20 per cent quarter-on-quarter (Q-o-Q) rise on the back of realisations.

Iron-ore production was 13.3 million tonnes (down 6 per cent and up 8 per cent Q-o-Q), while the sales stood at 12.5 MT (up 1 per cent Y-o-Y and up 10 per cent Q-o-Q). The average selling price (ASP) improved to ₹5,174 per tonne (up 10 per cent Y-o-Y and THE COMPASS 9 per cent Q-o-Q).

The iron-ore miner reported earnings before interest, taxes, depreciation, and amortisation (Ebitda) of ₹2,100 crore (down 3 per cent Y-o-Y and up 5 per cent Q-o-Q), which was a miss due to higher operating costs and higher royalty and cess.

The Ebitda per tonne was at ₹1,676 (down 4 per cent Y-o-Y and down 5 per cent Q-o-Q). The adjusted PAT was 1,400 crore (down 14 per cent Y-o-Y and down 19 per cent Q-o-Q). There was a higher tax outgo.