NMDC Limited is aiming to achieve 47 million tonnes of iron ore production during the current financial year and is planning to spend ₹A top Navratna public sector enterprise official said on Thursday that Rs 3,720 crore on capital expenditure.
Addressing the 63rd Annual General Meeting through video conference, the company’s Chairman and Managing Director, Sumit Deb said that the iron and steel industry has to be transformed through digitization and automation, infrastructure initiatives, restructuring of urban centers and energy transformation. This will provide exciting opportunities for rapid growth.
“In the current financial year, NMDC expects to achieve a production of 47 MT. It will also start mining of coal from the two blocks allotted in the fourth quarter of FY22.”
During the first quarter of the financial year, NMDC achieved production of 8.91 MT and sales of 9.45 MT respectively – its best Q1 since inception, he said.
total revenue from operations was ₹6,512 crore, while the profit after tax (PAT) was ₹3,193 crore in Q1, that too the best ever. NMDC achieved production of 34.15 MT and sales of 33.25 MT during the financial year 2020-21
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