Tue Nov 12 05:46:01 UTC 2024: ## NMDC to Consider Bonus Share Issue and Q3 FY24 Results
**New Delhi, November 5, 2024** – NMDC, a Navratna Public Sector Enterprise under the Ministry of Steel, has announced that its board of directors will meet on Monday, November 11 to discuss a potential bonus share issue and approve the financial results for the quarter ended September 2024.
The company’s stock closed at ₹234.70 on the BSE, up 3.60 per cent, following the announcement. The potential bonus share issue marks the first such action since 2008, when NMDC issued a bonus in the ratio of 2:1.
NMDC has been performing well financially, reporting a 19% year-on-year growth in net profit for the first quarter of the current fiscal year, reaching ₹1,969 crore. While revenue from operations remained flat at ₹5,414 crore, EBITDA increased slightly from ₹2,276 crore in Q1 FY24 to ₹2,725 crore in Q1 FY25. EBITDA margins expanded to 51% during the June 2024 quarter, up from 42% in the previous year.
As India’s largest iron ore producer with a capacity of 450.22 lakh tonne (LT), NMDC’s performance reflects the overall positive sentiment in the steel sector.
Investors are eagerly awaiting the board’s decision on the bonus share issue and the company’s Q3 financial results.
First Piper 