NMDC posts record output, sales  

Compared with the previous fiscal, production was 23% higher while sales saw an increase of 22%

India’s largest iron-ore producer NMDC reported a record 42.15 million tonne (MT) production and 40.70 MT sales for FY2021-22.

Compared with the previous fiscal, production was 23% higher, while sales saw an increase of 22%, the company said on Friday.

For the quarter ended March, production and sales stood at 13.84 MT and 12.34 MT respectively, a 12% increase from the year-earlier period. This was the best-ever quarterly performance, the company said.

“NMDC has achieved a record-breaking physical performance for FY22 on the back of a propelling expansion and investment strategy. We are entering the new fiscal with a valuable head start,” CMD Sumit Deb said in a release.

Meanwhile, the company has increased iron ore prices by ₹100 per tonne. With effect from April 1, the price will be ₹6,100 for a tonne of Lump Ore. The same quantity of Fines will come for ₹5,160 per tonne.

This is fourth upward revision the company had effected since January. On December 28, it had fixed the per tonne price of Lump Ore at ₹4,900 and that of Fines at ₹4,060. With effect from January 30, the prices were increased by ₹300 and ₹200 respectively.

On February 25, the per tonne price of lump ore was revised to ₹5,600, while that of Fines was set at ₹4,560. On March 8, the prices for the same quantity were increased to ₹6,000 and ₹4,960 respectively.