New Delhi, Oct 30 (IANS) Public sector mining major NMDC recorded a robust 33 per cent increase in net profit at Rs 1,694 crore in the second quarter (July-September) of the current financial year, amid a strong domestic steel demand and resilient mining operations, according to an official statement issued on Thursday.

The company’s turnover for the second quarter surged 30 per cent to Rs. 6,261 crore while the profit before tax jumped 35 per cent to Rs. 2,271 crore. The government-owned mining company also recorded a 32 per cent rise in its EBITDA (earnings before interest, tax, depreciation and amortisation) to Rs. 2,385 crore during the quarter.

The company recorded an all-time high production and sales volumes during the quarter in Q2 FY26, with the output at 10.21 million tonnes, up 23 per cent from the same period last year. Sales of iron ore during the period reached 10.72 million tonnes, an increase of 10 per cent over Q2 FY25, the statement said.

Amitava Mukherjee, NMDC Chairman and MD, said, “Record production, record sales, and strong financial growth this quarter are all indicators of our historic reliability. High-quality ore supply, ambitious expansion plans, and responsiveness to national policy goals continue to make NMDC a key enabler of India’s industrial aspirations. Going forward, our strategic efforts are guided by the responsibility to achieve self-sufficiency in steelmaking raw materials while also reaching net-zero emissions.”

NMDC is engaged in exploration and production of iron ore along with diamond production and sale of sponge iron and generation and sale of wind power.

The mining major had also set a new benchmark in FY 2024-25, achieving a total production of 44.04 million tonnes and sales of 44.4 million tonnes. The company also recorded its best-ever Q4 sales, reaching 12.66 million tonnes, the highest since its inception.

Strengthening its expansion plans, NMDC registered a record standalone capital expenditure (CAPEX) of Rs 3,707 crore in FY25, underlining its investment in capacity building and infrastructure projects.

–IANS

sps/na