India’s NMDC Steel Limited has reported a higher net loss of INR 5.953 billion ($70.54 million) in the second quarter (July-September) of the fiscal year 2024-25, compared to a net loss of INR 1.311 billion ($15.53 million) in the corresponding quarter of the previous fiscal year, according to a company statement on Wednesday, November 13.
The company reported total revenue of INR 15.3 billion ($181.9 million) for the given period, a rise of 428 percent year on year.
NMDC Steel Ltd, an entity demerged and formed from the government-run mining company NMDC Limited, owns and operates a 3 million mt per year steel mill at Nagarnar in Chhattisgarh state.