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NMDC Q4 profit rises 31% to ₹1,453 crore

May 30th, 2019 1:23 pm | By | Category: LATEST NEWS

baijendra kumar
NEW DELHI: State-owned miner NMDC Tuesday reported an over 31 per cent rise in standalone net profit at ₹1,453.77 crore for quarter ended March 2019. The company had posted a standalone profit of ₹1,105.85 crore in the year-ago quarter, NMDC said in a filing to the BSE.

Total income during the March quarter declined to ₹3,839.40 crore from ₹4,053.16 crore in January-March 2018, the statement said.

Total expenses for the latest quarter also fell to ₹1,641.65 crore from ₹2,059.84 crore in the year-ago period.

“Till now ₹15,300 crore has already been spent on construction of Nagarnar steel plant,” he said.

NMDC is country’s single largest iron ore producer, presently producing about 30 million tonnes of iron ore from three fully mechanised mines, according to its website.

This story has been published from a wire agency feed without modifications to the text.


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