NMDC announced a bonus issue of shares in a 2:1 ratio, with the record date of December 27, 2024. Shareholders holding 1 share will receive 2 bonus shares. As per the news reports, the company further informed that the date of allotment is December 30, 2024, and the shares will be made available for trading from December 31, 2024.
National Mineral Development Corporation (NMDC) reported strong financial results for Q2 FY 2024-25, with a 17% YoY increase in net profit, reaching ₹1,196 crore.
Revenue grew by 22.54% to ₹4,918.91 crore, mainly driven by higher iron ore segment revenues. Although operating expenses rose by 25%, largely due to increased royalties and levies, NMDC maintained strong profitability.
The results highlight the company’s solid operational performance and strategic growth in the mining sector.
National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India. It owns and operates highly mechanised iron ore mines in Chhattisgarh and Karnataka, and its registered office is in Hyderabad, Telangana.
NMDC is considered to be one of the low-cost producers of iron ore in the world. It also operates the only mechanised diamond mine in India at Panna, Madhya Pradesh. The Company is producing about over 45 MTPA of iron ore from its major iron producing units i.e. from Bailadila Sector in Chhattisgarh and Donimalai in Bellary-Hospet region in Karnataka. NMDC envisages to have an iron ore production capacity of 100 MNT by FY30.
On December 27, 2024, NMDC share price traded 0.64% higher at ₹71.94 at 9:30 AM on the NSE.
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Published on: Dec 27, 2024, 9:30 AM IST
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