NMDC Steel Q2 Results: Swings Back To Loss; Shares Fall Nearly 7%

NMDC Steel Ltd. swings back to loss of Rs 115 crore in the second quarter of this financial year.

The steel maker had posted a profit of Rs 25.6 crore in the first quarter of this fiscal, according to its stock exchange notification on Wednesday. However, it had posted a loss of Rs 547 crore in quarter ended March.

Revenue rose by 0.7% year-on-year for the three months ended September, reaching Rs 3,390 crore. Operating income, or earnings before interest, taxes, fell 50.4% year-on-year to Rs 417 crore. The Ebitda margin contracted to 6.1%.

• Revenue up 0.7% to Rs 3,390 crore versus Rs 3,365 crore.

• Ebitda down 50.4% to Rs 207 crore versus Rs 417 crore.

• Margin at 6.1% versus 12.4%.

• Net loss of Rs 115 crore versus net profit of Rs 25.6 crore.

NMDC Steel had produced 2 million tonnes of hot metal in the 2024-25 financial year. This milestone marks a 100 per cent increase in hot metal production compared to the previous 2023-24 fiscal year, when its plant produced 9,66,468 tonne in its first seven and a half months of operation

The scrip fell as much as 6.88% to Rs 44.39 apiece after the earnings were announced. It pared losses from the high of 4.15% to close 6.36% lower at Rs 44.64 apiece. This compares to a 0.52% advance in the NSE Nifty 50 Index.

It has fallen 1.22% in the last 12 months and risen 3.59% year-to-date.