NMDC Q2 net up 78% at Rs 1,378 cr

The country's largest iron ore producer, NMDC, today reported a 78 per cent jump in net profit in the second quarter of the current fiscal due to a rise in mineral prices vis-a-vis the year-ago period.

The company had posted a profit of Rs 770.85 crore for the corresponding period a year ago.

NMDC clocked a revenue of Rs 2,459.98 crore in the reporting quarter as against Rs 1,390.13 crore in the year-ago period.

NMDC shares today closed at Rs 281.20 on the Bombay Stock Exchange, up 2.03 per cent over the previous close.

Analysts said firming global and domestic iron ore prices helped improve the company's bottomline, as well as top-line.