Volume growth for NMDC to remain robust in H2FY25

NMDC's revenue in Q2FY25 came in at ₹4,900 crore (a rise of 23 per cent year-on-year or Y-o-Y), while it was down 9 per cent quarter-on-quarter (Q-o-Q).

- DEVANGSHU DATTA

Iron ore production stood at 8.3 million tonnes (down 7 per cent Y-o-Y and 10 per cent Q-o-Q).

Sales were at 9.9 million tonnes (up 4 per cent Y-o-Y and down 1 per cent Q-o-Q).

The average selling price stood at ₹4,954/tonne (up 18 per cent Y-o-Y).

The operating profit was ₹1,400 crore (up 16 per cent Y-o-Y and down 41 per cent Q-o-Q).

Increase in operating costs led to operating profit/tonne dropping to ₹1,395 per tonne (up 12 per cent Y-o-Y, down 40 per cent Q-o-Q).

The adjusted net profit was ₹1,200 crore (up 17 per cent Y-o-Y and down 39 per cent Q-o-Q).

For H1FY25, NMDC revenue was ₹10,300 crore (up 10 per cent Y-o-Y), operating profit was ₹3,700 crore (up 17 per cent Y-o-Y), and adjusted net profit of ₹3,200 crore (up 18 per cent Y-o-Y).

Second half revenue growth will be much higher, with commensurate growth in operating profit.