NMDC Steel Sees Reduced Losses Amid Revenue Boost

On Wednesday, NMDC Steel reported a narrowed net loss of Rs 114.78 crore for the September quarter of FY26, attributing the improvement to increased revenues.

In the previous year, the company had faced a more substantial net loss of Rs 595.37 crore during the same period. The company's total income surged to Rs 3,411.03 crore, compared to Rs 1,535.46 crore in the second quarter the previous year.

However, the company's total expenses also saw a rise, reaching Rs 3,593 crore from Rs 2,364.39 crore, primarily due to higher raw material costs. NMDC Steel Ltd, previously part of mining giant NMDC, owns and operates the 3 million-tonne Nagar Steel Plant, which is India's youngest steel unit, established with an approximate investment of Rs 23,000 crore.