NMDC growth

  • Mr Piyush Goyal

Iron ore producer NMDC Ltd. has said its production has grown by about 28 percent and sales have increased nearly 17 per cent in the April-June quarter of the current fiscal. According to provisional data, the mining behemoth produced 7.63 million tonnes (mt) of iron ore during the April-June quarter of the current fiscal, up 28 percent from 5.93 mt produced in the same period last year. Its sales stood at 7.77 mt in the period under review as compared to 6.65 mt sold in the corresponding period last year, the company said in a filing to the Bombay Stock Exchange (BSE). Its production stood at 2.64 mt during June 2016 while its sales during the month were at 2.79 mt, it said. On a month-on-month basis, its June production, however, fell by 5.37 per cent while its sales increased by close to 15 per cent. In May, production and sales of the largest iron ore producers were at 2.79 mt and 2.43 mt respectively. The scrip was currently trading at Rs. 96.25, up by 1.60 points or 1.48 per cent from its previous closing on the BSE.