NMDC Q4 profit rises 31 pc to Rs 1,453 crore

State-owned miner NMDC Tuesday reported an over 31 per cent rise in standalone profit at Rs 1,453.77 crore for quarter ended March 2019.

The company had posted a standalone profit of Rs 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 Rs 3,839.40 crore from Rs 4,053.16 crore in January-March 2018, the statement said.

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

The National Mineral Development Corporation (NMDC) is country's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from three fully mechanised mines.

In a separate statement, NMDC said, "The company's production of iron ore during the fourth quarter is 10.59 million tonne, a decrease of 7 per cent over the corresponding period last year (CPLY), while sales were at 10.17 MT which was about 3 per cent less than that of CPLY.