NMDC Profit Rises, Production Surges — So Why Did the Stock Fall 4%?

shares declined around 4% despite a modest improvement in Q1 FY27 profit. The reaction appears to be driven more by volume and cost concerns than by the headline earnings number. Key Financial Highlights PAT: ₹2,007 crore, up 2% YoY Revenue from Operations: ₹6,795 crore, up 2% EBITDA: ₹2,817 crore, up from ₹2,777 crore EBITDA Margin: 41% vs 42% YoY PBT: ₹2,692 crore, up 2% Iron Ore Production: 151.17 lakh tonnes, up 26% Iron Ore Sales: 117.30 lakh tonnes, up 2% Average Domestic Realisation: ₹5,548/tonne, up 4% Iron Ore Sales Revenue: ₹6,508 crore, up 6% What Is The Market Worried About? The biggest disconnect is between production and sales. NMDC increased production by 26%, but sales volumes grew only 2%. This indicates that the sharp increase in production has not yet translated into a similar increase in sales. At the same time, total expenses rose 4%, with royalty and other levies increasing 31% to ₹1,644 crore. Operating expenses also jumped 34% to ₹1,801 crore.