NMDC will issue bonus 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 performance for the second quarter of FY 2024-25, with a notable 17% year-on-year increase in net profit, which reached ₹1,196 crore.
The company’s revenue also saw a significant growth of 22.54%, rising to ₹4,918.91 crore, driven mainly by a rise in iron ore segment revenues. Despite a rise in operating expenses by 25%, primarily due to higher royalty and levies, NMDC managed to maintain its profitability.
These results reflect the company’s robust operational performance and strategic growth in mining.
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 has its registered office 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.
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Published on: Dec 26, 2024, 9:05 AM IST
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