NMDC shares up nearly 4% after earnings

Shares of state-owned miner NMDC today gained nearly 4 per cent after the company reported 33.9 per cent rise in standalone net profit for the quarter ended March 31, 2014.

The company's scrip ended the day at Rs 176.35, up 3.61 per cent at the BSE. During the day, the scrip gained 6.34 per cent to Rs 181.

At the NSE, the stock settled with a gain of 3.62 per cent at Rs 176.15.

In terms of volume, 4.34 lakh shares were traded at the BSE, while over 60 lakh shares were traded at the NSE during the day.

NMDC had on Friday reported 33.9 per cent rise in standalone net profit to Rs 1,962.14 crore for the quarter ended March 31, 2014, on the back of record production and sales.

The company's net profit in the corresponding quarter of FY13 was Rs 1,464.95 crore.

Total income from operations during the quarter was at Rs 3,884.49 crore, registering an increase of 21.2 per cent over Rs 3,204.25 crore in the year-ago period.

For full FY2014, net profit increased to Rs 6,420 crore against Rs 6,342 in FY13. The turnover stood at Rs 12,058 crore in FY14 against Rs 10,704 crore in FY13.