Iron ore sales in the month of May 2023 stood at 3.62 MT, registering the growth of 23.02% as compared with 2.65 MT recorded in May 2022.

Sequentially, the PSU minor's iron ore production increased by 5.7% and iron ore sales increased by 5.54% in May 2023 over April 2023.

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 30 June 2022, the Government of India held 60.79% stake in the firm.

The company reported 22% jump in consolidated net profit to Rs 2,277 crore on despite an 18% fall in total income to Rs 5,839 crore in Q4 FY23 as compared with Q4 FY22.

The scrip rose 0.23% to Rs 107 on the BSE.

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