Guwahati: The Ministry of Steel stated that the state-owned National Mineral Development Corporation (NMDC) increased its iron ore output by more than 14% to 3.2 million tonnes (MT) in May. In May 2021, NMDC produced 2.8 MT of iron ore.

"Our steady production increase has made NMDC not just India's fastest growing iron ore mining firm, but also the most constant supplier to the local steel sector."

"We have fortified our core by bringing in a fleet of new generation technologies and digital initiatives," stated NMDC CMD Sumit Deb. According to the most recent report, NMDC's consolidated net profit decreased 36% to Rs 1,812.98 crore for the quarter ended March 31, dragged down by increasing costs.

According to NDMC's regulatory filing, the business earned Rs 2,835.54 crore in net profit during the January-March quarter of 2020-21.

The company's overall income increased marginally to Rs 7,034.83 crore in the current quarter, up from Rs 6,932.75 crore the previous year.

Total costs increased to Rs 4,156.62 crore, up from Rs 2,668.36 crore the previous year.

Hyderabad-based NMDC is the country's main iron ore producing and selling enterprise, according to the Ministry of Steel.