NMDC Steel’s Profit Rally Short-Lived as Q2 Loss Triggers 7% Stock Slide
Q2 Earnings: From Profit to Loss in One Quarter Just a quarter after celebrating its maiden profit, NMDC Steel Ltd swung back to loss in the second quarter of FY26. The state-run steel maker — recently spun off from iron ore mining giant NMDC — posted a net loss of ₹115 crore for Q2 (July–Sept 2025) ndtvprofit.com. This is a stark turnaround from Q1 FY26 (Apr–Jun), when NMDC Steel had earned a modest ₹25.6 crore net profit ndtvprofit.com, its first profitable quarter since inception. According to the company’s exchange filing on Wednesday, the bottom-line was dragged down by a sharp drop in margins even as sales
