NMDC approves 2:1 bonus issue

12 Nov 2024 , 01:22 PM

On Tuesday (November 11), state-owned NMDC Ltd reported an 18.1% YoY increase in net profit of ₹1,211.6 Crore for the second quarter ending September 30, 2024.

In the preceding fiscal quarter, NMDC reported a net profit of ₹1,026 Crore, according to a regulatory filing.

The company’s operating revenue increased by 22.5% to ₹4,919 Crore from ₹4,014 Crore in the previous fiscal year. 

In the second quarter of this fiscal year, EBITDA increased by 16.4% to ₹1,385.7 Crore, up from ₹1,191 Crore in the same period last year. The EBITDA margin was 28.2% in the reporting quarter, compared to 29.7% in the same time last fiscal year.

The board has approved the issuance of bonus shares to shareholders in the ratio of 2:1, i.e. two bonus equity shares of face value ₹1 each for every one existing equity share of face value ₹1 each, to eligible members of the company as on the record date, subject to shareholder approval.

The NMDC board has approved increasing the company’s authorised share capital from ₹400 Crore to ₹1,000 Crore, divided into 1,000 Crore equity shares of ₹1 apiece. This increase is subject to all relevant regulatory approvals.

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