NMDC shines bright

NMDC is a star today on the market, clocking volumes of almost 16 lakh shares. The stock opened almost 6.5% higher today at Rs.250.10 and rose to a new 52-week high at Rs.252.65, up over 7.5%.

The PSU reported a 63% (YoY) jump in consolidated net profit of Rs.1470 crore on a 45% rise in revenue at Rs.5410 crore. The earnings were driven mainly by increased demand for iron ore in India. The many price hikes, thanks to the rising iron ore prices also led to the increased earnings. Average sales realisation was up 22% at Rs.4679 crore.

EBITDA came in at Rs.2366 crore, up 78%. Margins went up from 36% to 44%.

NMDC Ltd, formerly National Mineral Development Corporation, is an Indian public sector undertaking involved in the exploration of iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, coal etc