Q1FY21 results of NMDC Ltd - Jyoti Roy, DVP - Equity Strategist, Angel Broking Ltd

"NMDC reported a 40.6% YoY degrowth in consolidated revenue to ₹1,937 crore for Q1FY21. As per company estimate during the quarter there was a loss of around 18.23 lakh Tonne of production and 23.94 lakh tonne of sales of Iron ore which impacted revenues. Consolidated EBIDTA for the quarter stood at ₹753 crore down by 59.6% YoY. Consolidated net profit for the quarter was down by 54.9% YoY to ₹532 crore as compared to profit of ₹1,178 crore in the corresponding quarter previous year. As per company estimate loss of iron ore sales due to Covid-19 has resulted in a loss in Sales revenue of around ₹737 crore and PBT of ₹317 crore for Q1FY21. However with domestic steel production continuing to improve the company's financials should improve in Q2 as compared to Q1."

Shares of NMDC LTD. was last trading in BSE at Rs.96 as compared to the previous close of Rs. 96.3. The total number of shares traded during the day was 264354 in over 1862 trades.

The stock hit an intraday high of Rs. 97.6 and intraday low of 95.35. The net turnover during the day was Rs. 25403766.

Source : Equity Bulls

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