Shares of NMDC Ltd declined around 4.5% to ₹69 in Thursday’s trade despite the company reporting a strong topline for the first quarter of FY26. The pressure came as higher costs offset the benefit of robust volumes.
Earlier this week, the state-owned miner posted a strong performance for the first quarter of FY26, driven by robust revenue growth. The company’s revenue from operations jumped 23% year-on-year (YoY) to Rs 6,634 crore in Q1 FY26 from Rs 5,378 crore in the same period last year, supported by higher iron ore production and sales.
However, profit after tax saw a marginal dip of 1% to Rs 1,969 crore compared to Rs 1,984 crore in Q1 FY25, reflecting increased expenses despite the higher topline. The company’s margins came under pressure as royalties, levies, and other costs moved higher, impacting the bottom line.
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