NMDc reported a 2% increase in net profit for the June quarter, driven by higher iron ore sales and record production levels, signalling strong operational momentum as it targets further volume expansion in FY27.
NMDC reported a 2 per cent rise in consolidated net profit to ₹2,005.71 crore for the June quarter, as stronger iron ore sales helped lift revenue. According to the company’s regulatory filing, profit was up from ₹1,967.46 crore a year earlier, while total income edged 1.5 per cent higher to ₹7,142.54 crore.
Iron ore sales brought in ₹6,802.12 crore during the quarter, about 10 per cent more than in the same period last year. NMDC also said it produced 15.12 million tonnes of iron ore in the first quarter of FY27, a 26 per cent increase, while sales rose 2 per cent to 11.73 million tonnes. LiveMint said the figures point to firmer operating momentum as the miner seeks to expand volumes further this year.
Amitava Mukherjee, NMDC’s chairman and managing director, said the company had started FY27 on a strong footing and was working towards a production target of 60 million tonnes in the current financial year and 100 million tonnes by 2030. That long-term goal follows a strong FY26, when NMDC posted record iron ore production of 53.16 million tonnes and higher annual revenue, according to business updates reported by Indian financial publications.
The company also disclosed that trade receivables from Rashtriya Ispat Nigam Ltd stood at ₹4,712.47 crore as of June 30, mainly for iron ore and pellet supplies. On its proposed 3 million tonnes per annum steel project in Karnataka, NMDC said it has already paid ₹639.61 crore to the Karnataka Industrial Area Development Board for land allotted to its subsidiary, Karnataka Vijayanagar Steel Ltd, although the lease agreement is still pending. The land is now in the subsidiary’s possession.
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