Steady FY23 by India’s Mining Major NMDC, CMD Amitava Mukherjee said...

Hyderabad, 23 May 2023

Country’s largest iron ore producer, NMDC declared its FY23

results today. In the financial year 2022-23, the company produced 40.82 million tonnes and sold

38.22 million tonnes of iron ore. NMDC is the first iron ore producer in India to cross the 40

MnT production mark for the second consecutive fiscal.

Government of India’s profit making PSE recorded a turnover of Rs.17667 crore, with Profit

Before Tax (PBT) at Rs.7637 crore and Profit After Tax (PAT) at Rs.5529 crore in FY23. The

mining major has also announced 2 nd and final dividend of Rs.2.85 per share. The total dividend

including 1 st interim dividend (Rs.3.75 per share) is Rs.6.6 per share for FY23.

Concluding the year with a strong performance, NMDC registered iron ore production of

14.13 MnT and sales of 12.41 MnT in the fourth quarter of FY23 which is the highest for any

quarter since inception. For Q4 of the financial year, turnover stood at Rs.5851 crore while PBT

and PAT clocked Rs.3285 crore and Rs.2277 crore respectively.

Commenting on the company’s performance, Shri Amitava Mukherjee, CMD (Additional

Charge) said, “NMDC’s strong core and technical affinity has helped us report steady volumes

and margins in the face of challenges like heavy rainfall, dull demand and price volatility. With

Government of India’s fillip to infrastructure, NMDC is committed to fuel the increase in

domestic steel production and consumption by ensuring raw material security.”