HYDERABAD: The National Mineral Development Corporation (NMDC) recorded 45 per cent more turnover during the third quarter of 2020-21 as compared to the corresponding period last year.Despite the adversities induced by the Covid-19 pandemic, it was the best-ever quarterly performance of the public sector miner since its inception, it said in a press release issued on Tuesday.
The NMDC said in the third quarter of 2020-2021 its turnover was Rs 4,355 crore, against that of Rs 3,006 crore in the corresponding period last year. It produced 9.60 million tonnes (MT) and sold 9.28 MT of iron ore in the third quarter of the 2020-2021 fiscal, it said.
“We have realigned our strategy to focus on optimum utilisation of resources. The various steps undertaken to reduce costs, improve output and maximise profitability have led us to bounce back after the initial setback in Q1 due to the pandemic,” NMDC CMD Sumit Deb said.
NMDC’s Profit Before Tax (PBT) for the third quarter of 2020-21 is Rs 2,811 crore against Rs 1,647 crore during the third quarter of 2019-20. Also, the Profit After Tax (PAT) increased by 53 per cent to Rs 2,109 crore against Rs 1,376 crore.