Lower prices of iron-ore factored into valuations of NMDC's stock

Royalty as percentage of sales stood at 43 per cent in Q1FY24 versus 44.8 per cent in Q4FY23

Stocks, shares, stock maket

Devangshu Datta

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Iron-ore supplier NMDC reported an operating profit of Rs 1,990 crore, up 5 per cent year-on-year (Y-o-Y) with realisations of Rs 1,800/ tonne. Operating profit decreased by 7.8 per cent on a sequential basis. 

Revenue grew 13 per cent Y-o-Y to Rs 5,390 crore in the first half of this financial year (Q1FY24), but decreased by 7.8 per cent quarter-on-quarter (Q-o-Q).

Blended average sale price stood at Rs 4,915 per tonne, down 20 per cent Y-o-Y, given the high base of Q1FY23 when global fears of supply disruption drove up prices. 

First Published: Aug 18 2023 | 8:26 PM IST

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