PSU Mining Enterprise Declares 22% Surge In Net Profit, 2.85/Share Final Dividend

Leading Government of India public enterprise, NMDC on Tuesday announced 22% surge in its consolidated net profit at Rs 2277 crore for the March quarter against Rs 1862 crore declared in the corresponding quarter a year ago. Board of directors of NMDC announced final dividend of Rs 2.85 per share for financial year 2022-23. NMDC Share fell 0.71% on BSE to end at Rs 105.05 per share.

NMDC Ltd Declarse Dividend: According to the BSE filing of the company, "the Board of Directors of the Company, in the said meeting, has also recommended the payment of Final Dividend of Rs. 2.85 (Rupee Two and Eighty Five paise only) per share on the face value of Rs. 1 /- each for the financial year 2022-23, subject to approval of the shareholders in the ensuing Annual General Meeting (AGM)."

NMDC Ltd Stock Performance & Return: The last trading price of NMDC Ltd share is Rs 105.20 per share with intraday fall of 0.57%. The stock's 52-week high price is Rs 131.85 apiece and 52-week low price is Rs 81.27 apiece, respectively. The large cap company has a market capitalisation of Rs 30,800.67 crore. NMDC share surged 2% in last 1-year, declined 30% in last 2-years, gave return of 78% in last 3-years, and 11% return in last 5-years.

NMDC Q4: Its revenue from operation witnessed a decline by 13.76% to Rs 5,851 crore for the March quarter against Rs 6,785 crore announced in the corresponding quarter of preceding fiscal. Meanwhile, NMDC announced 11.42% jump in its iron ore production of 3.51 million tonne (MT) in April 2023. It managed to produce 3.15 MT of iron ore in the same month last year, as per its BSE filing. Last month, its sales rallied by nearly 10% to 3.43 MT from 3.12 MT in April 2022.

About: Incorporated in 1958 as a Government of India public enterprise, NMDC is India's largest producer of iron ore. Since inception, the corporation under the administrative control of the Ministry of Steel, has been involved in the exploration of a wide range of minerals including copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands amongst others in some of the most remote corners of the country, according to its official website.