NMDC Q1 profit rises to ₹2,007 crore as iron ore production jumps 26%

State-owned NMDC reported a 2% rise in consolidated profit after tax to ₹2,007 crore for the first quarter of FY27, while iron ore production jumped 26% to 15.12 million tonnes, the company said.

NMDC produced 15.12 million tonnes (MT) of iron ore in the April-June quarter, compared with 11.99 MT a year earlier. Sales, however, rose only 2% to 11.73 MT from 11.52 MT.

The company said its production increase reflected higher capacity utilisation and improved operations.

NMDC: Revenue And Profit

NMDC's turnover rose 2% to ₹6,795 crore in Q1 FY27 from ₹6,634 crore in the year-ago quarter.

Profit before tax increased to ₹2,692 crore from ₹2,644 crore, while profit after tax rose to ₹2,007 crore from ₹1,969 crore.

EBITDA stood at ₹2,817 crore, up 1% from ₹2,777 crore.

The stronger production growth compared with sales means inventory and offtake will remain important as the year progresses.

NMDC's 60 MT Target

NMDC Chairman and Managing Director Amitava Mukherjee said the company had started FY27 with higher production and improved profitability.

"NMDC has begun FY27 on a strong footing, with higher production and improved profitability reflecting the resilience of our operations and the discipline of our strategy," Mukherjee said.

The company is targeting 60 MT of production in FY27 and plans to scale this up to 100 MT by 2030.

"Our focus is now on scaling volumes, improving productivity and unlocking greater value from our mineral resources," Mukherjee said.

Reaching 60 MT would require NMDC to maintain a high production pace through the remaining three quarters.

The company said it will focus on volume expansion and productivity as it works towards its 2030 target. NMDC is a key supplier of iron ore to India's steel industry, while the government is also pushing for greater self-reliance in raw materials.