NMDC India’s largest iron ore producer has reported increase of 13% Y-o-Y Q2 FY 18 as it was 7.13 MnT iron ore in Q2 FY18 against 6.3 MnT in Q2 FY17. Out of 7.13 MnT iron ore produced in Q2 FY 18, 4.23 MnT was produced from NMDC’s Bailadila mines in Chhattisgarh, up 22% Y-o-Y and the rest 2.9 MnT was produced from Karnataka mines, up 3% Y-o-Y.
However, it has recorded a decrease in its iron ore production by 16% Q-o-Q in Q2 FY’18 against 8.52 MnT Q1 FY18 owing to monsoon.
On monthly premises, iron ore production moved up by 10% M-o-M to 2.47 MnT against 2.25 MnT in Aug’17.
NMDC iron ore sales up 4% Y-o-Y in Q2 FY’18 – NMDC’s iron ore sales up by 4% Y-o-Y to 8.4 MnT in Q2 FY18 against 8.06 in Q2 FY17. Out of total 8.4 MnT iron ore sales in Q2 FY18 from Chhattisgarh (Bailadila) and Karnataka mines were at 5.12 MnT and 3.28 MnT respectively.
Sales were down by 11% M-o-M to 2.62 MnT in Sept’ 17 against 2.95 MnT in Aug’17.
NMDC achieved nearly 20% yearly growth in its iron ore output last fiscal and produced 34.15 MnT FY’17 against 28.58 MnT in FY16. The iron ore miner significantly raised its iron ore output from Chhattisgarh mines from 16.6 MnT in FY16 to 22.03 MnT in FY17.
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