NMDC Q2 net up 19% at Rs 1,567 cr

The company's turnover increased by 25% to Rs 3,105 crore

State-owned iron ore minor NMDC Limited had reported a 19 per cent rise in net profit at Rs 1,567 crore during the quarter ended September 2014 compared with a profit of Rs 1,318 crore accrued during the corresponding quarter previous year. The company's turnover increased by 25 per cent to Rs 3,105 crore from Rs 2,480 crore during the same period.

NMDC stated that its iron ore production during the quarter under consideration increased by 9 per cent to 6.4 million tonnes while sales stood at 7.2 million tonnes registering a growth of about 12 per cent.

Chairman and managing director, Narendra Kothari, said that NMDC was on the right path to achieve production and sale over 32 million tonnes of iron ore this year.