(THE NEWSMAN OF INDIA.COM)
Hyderabad: India’s mining major NMDC produced 42.19 million tonnes and sold 40.56 million tonnes of iron ore during the financial year 2021-22. With this, the company registered the strongest ever growth in its history, of 24% over last fiscal’s production of 34.15 million tonnes and a 22% growth over the 33.25 million tonnes sold in FY21.

While crossing the 42 million tonne milestone, the largest iron ore producer of the country also delivered the best ever annual financial results. In FY22, it recorded a turnover of Rs. 25,882 crore against Rs. 15,370 crore in the previous year, a 68% move upwards.

NMDC reported a Profit Before Tax (PBT) of Rs. 12,981 crore for FY 2021-22, 46% growth over FY 2020-21’s Rs. 8,902 crore. Profit After Tax (PAT) at Rs. 9,398 crore for the year similarly reflects a robust growth of 50% over PAT of Rs. 6,253 crore achieved in the previous financial year. The public sector company also paid its highest ever dividend of 1474% during FY22.

Concluding the year with a strong performance, NMDC produced 13.86 MnT during the Q4 FY2021-22 as against 12.31 MnT in the CPLY, a growth of 13%, while realising a 11% growth in sales of 12.29 MnT of iron ore to 11.09 MnT sold in Q4 of FY 2020-21. For the fourth quarter of the financial year, turnover stood at Rs. 6,702 crore while PBT and PAT were clocked at Rs. 2,880 crore and Rs. 1,815 crore respectively.

The Audited Financial Results for the year 2021-22 were approved by the Board of Directors of the Company under the Chairmanship of Shri Sumit Deb, CMD, NMDC in its meeting held on May 26, 2022.

Commenting on the impressive performance, Shri Sumit Deb, CMD, NMDC said, “This performance reflects the commitment of NMDC to make India truly AtmaNirbhar.

We start this fiscal with a continued sense of focus and expect to complete important projects and deliver a stronger and sustained performance, owing to our focus on automation and digital initiatives that will catalyse our operations.