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Falling iron prices play spoilsport for NMDC

As revenues and profitability remain robust, lower international iron ore prices is an overhang

Photo courtesy: www.nmdc.co.in
Photo courtesy: www.nmdc.co.in

NMDCcontinuestowitnessstrongvolumegrowthwithimprovingrealisationsdrivingitsquarterlyperformance.DuringtheMarchquarter(Q4),thecompanyachievedvolumesof9.8milliontonnes(MT)whichweremuchbetterthan8.8MTintheyear-agoquarter.Similarly,pertonnerealisationsatRs2,841alsoimprovedfromRs2,403intheDecemberquarterandRs1,658seenintheyear-agoquarter. Thus,thecompanysawan88percentyear-on-year(y-o-y)and15percentsequentialriseinsalestoRs2,872crore.ThiswasalsoaheadofStreetexpectationsasBloombergconsensus ...