India's state-owned mining major NMDC said its iron ore production was flat at 2.52 million tonnes in June 2020 compared with June 2019.
Iron ore sales declined 6.77% to 2.48 million tonnes in June 2020 as against 2.66 million tonnes in June 2019.
Sequentially, production jumped 10% in June 2020 from 2.29 million tonnes in May 2020. Sales declined 2.75% during the month from 2.55 million tonnes in May 2020.
On a consolidated basis, NMDC's net profit slumped 76.1% to Rs 347 crore on 12.5% fall in net sales to Rs 3,187.34 crore in Q4 March 2020 over Q4 March 2019. EBITDA slipped 33% to Rs 1,528 crore in Q4 March 2020 as against Rs 2,288 crore in Q4 March 2019. The EBITDA margin stood at 48% in Q4 FY20 as compared to 63% in Q4 FY19.
NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.
As of 31 March 2020, the Government of India holds 69.65% stake in the mining company.
(Writing by Becky Du Editing by Harry Huo)
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