NMDC Steel Narrows January-March Loss On Strong Revenue ; 2024-25 Loss Widens

NMDC Steel Ltd.’s net loss for the March quarter narrowed to ₹4.73 billion from ₹8.61 billion a year ago and ₹7.58 billion in the December quarter. Revenue rose 53.8% on year to ₹28.38 billion, and was up 33.9% sequentially. Other income dropped to ₹192.3 million from ₹899.8 million a year earlier.

Total expenditure, including finance cost, stood at ₹35.22 billion, up from ₹32.09 billion a year ago. Finance cost increased to ₹1.73 billion from ₹1.55 billion. The company reported a tax write-back of ₹1.91 billion for the quarter, compared with ₹4.12 billion a year earlier.

For 2024-25, NMDC Steel’s net loss widened to ₹23.74 billion from ₹15.60 billion, even as revenue nearly tripled to ₹85.03 billion.
The board has approved the designation of K. Raj Shekhar, general manager (finance), as whole-time chief financial officer until a new whole-time director (finance) takes charge.