NMDC continues with stable performance despite the adverse effects of Covid 19 Pandemic


NMDC continues with stable performance
despite the adverse effects of Covid 19 Pandemic

Hyderabad, August 27 2020: NMDC has produced 66.05 lakh tonnes and sold 62.75 lakh tonnes of iron ore during Q1FY21.
NMDC’s Profit Before Tax (PBT) for the Q1 of 2020-21 is Rs.759 crore against Rs.1913 crore during Q1 of 2019-20, decrease by 60%. Similarly Profit After Tax (PAT) for the Q1 2020-21 is Rs. 533 crore against Rs. 1179 crore during Q1 of 2019-20, decrease by 55%.
NMDC’s turnover during the1st quarter of 2020-21 is Rs.1938 crore compared to turnover of Rs.3264 crore of CPLY.
Impact of COVID-19 on the Performance of the Company:
·          Due to nation-wide lock down, both production & sales were impacted.
·          There has been a loss of around 18.23 LT of Production and 23.94 LT of sales
·          This has resulted in an estimated loss in sales revenue of Rs.737 crore and PBT of Rs.317 crore
Nationally Iron Ore output in 2020-21 (Q1) is down by 45% when compared with CPLY, whereas NMDC fall is 22%.
Further, NMDC produced around 20% of India’s total iron ore production for the period
2020-21(Q1).
Commenting on the performance, Shri Sumit Deb, CMD, NMDC said, “This is a difficult year with the pandemic creating unprecedented situations. I am happy that our performance remains stable despite the challenges we are facing. I am certain we will see marked improvement in our performance in the following quarters with the conditions getting normalised.”

Comments

Popular posts from this blog

अभिनेता साई गुंडेवार यांचे प्रदीर्घ आजाराने अमेरिकेत निधन!

कॅप्री ग्लोबल कॅपिटल लिमिटेडची ग्रीन यात्रासोबत वृक्षारोपण मोहीम

Views on the decision of Monetary Policy Committee of RBI.