NMDC Q3: Revenue Up, But Higher Expenses Hit Operating Performance; New Critical Minerals Unit

• NMDC Ltd. reported a 16% year-on-year revenue growth to ₹7,610.8 crore in Q3, exceeding poll expectations.
• Operating performance was lower than anticipated, with EBITDA down 9.6% to ₹2,144.3 crore, though in line with poll.
• EBITDA margin narrowed significantly to 28.2% from 36.1% due to a 70% jump in other expenses and 65% rise in selling expenses.
• A ramp-up in the pellet business contributed to the topline growth, with revenue increasing to ₹1,537 crore.
• NMDC has incorporated a new unit for the acquisition, exploration, and production of critical minerals.

Why It Matters: NMDC's Q3 revenue grew, but increased expenses severely impacted operating margins; a new critical minerals unit was formed.