NMDC's best results as iron ore output up 10% in FY24; sales rise 16%: CMD

NMDC posted "best-ever yearly performance" in FY24 with iron ore production rising 10 per cent to cross 45 million tonnes and sales going up 16 per cent to touch 44.48 million tonnes mark, the company's CMD Amitava Mukherjee said on Tuesday.

The nation has witnessed strong growth of 7 per cent year-on-year in iron ore output, with production increasing from 257 million tonnes in FY23 to an impressive 275 million tonnes in FY24, the CMD said while addressing NMDC's 66th Annual General Meeting (AGM).

"I am delighted to share that NMDC has played a significant role in this achievement, securing a commendable 16 per cent market share. FY24, NMDC registered its best ever yearly physical performance as it produced 45.02 million tonnes and sold 44.48 million tonnes of iron ore," he said.

The company recorded a 10 per cent growth in production and 16 per cent growth in sales compared to FY23 volumes, Mukherjee said.

The performance translated into a strong financial performance earning a .