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NMDC posts 6% rise in FY21 sales to 33 mln tn, Mar sales up 51% YoY

Informist, Thursday, Apr 1, 2021

 

–Source: NMDC FY21 iron ore output rises 8% on year to 34.1 mln tn

–NMDC Mar iron ore sales rise 51% YoY to 4.1 mln tn

–NMDC Mar iron ore output rises 66% on year to 4.6 mln tn

–NMDC Mar output, sales aided by Donimalai mine

 

By Narayana Krishna

 

HYDERABAD – NMDC Ltd's iron ore sales rose 6% on year to 33.2 mln tn and output increased by 8% to 34.1 mln tn in the previous financial year ended March, a source told Informist.

 

The public sector iron ore major's output and sales increased significantly in March, helping the company top its output and sales target of 32 mln tn each. For March, NMDC's output rose 66% on year to 4.6 mln tn, while sales were up 51% at 4.1 mln tn.

 

Besides higher inventory and improved demand from domestic steel mills, resumption of operations at the Donimalai mine helped the company achieve a significant jump in volumes in March, the source said.

 

Donimalai mine, which contributes around 0.6-0.7 mln tn a month to the overall volumes, was not operational last year.

 

Today, shares of NMDC ended 2% higher at 138 rupees on the National Stock Exchange.  End

 

Edited by Mainak Moitra

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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