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NMDC Q3 results: Net profit soars 53.4% YoY to Rs 2,108 crore

The revenue from operations rose 44.8 per cent to Rs 4,355.10 crore in the December quarter

NMDC | NMDC share

BS Web Team 

NMDC under pressure to cut iron ore prices for April

State-owned NMDC, the country's largest iron ore miner, on Monday reported a 53.4 per cent year-on-year rise in consolidated net profit at Rs 2,108.05 crore for the quarter ended December 31 (Q3FY21). The company posted a profit of Rs 1,375 crore in the corresponding period a year ago (Q3FY20). It was Rs 772.53 in September quarter (Q2FY21).

The revenue from operations rose 44.8 per cent to Rs 4,355.10 crore in the December quarter compared to the revenue of Rs 3,006.38 crore during the same period a year earlier. It was Rs 2,229.89 crore in the September quarter.

Besides iron ore, is also involved in the exploration of a wide range of minerals like copper, rock phosphate, lime stone, dolomite and gypsum.

Segment wise, the revenues from iron ore were up 44 per cent during the quarter under review at Rs 4,311 crore, compared with Rs 2,991 crore in the same period, a year earlier. The total expenses of the company came in at Rs 1650.56 crore in the latest December quarter.

stock ended at Rs 117.75 a piece, up 1.42 per cent on BSE on February 8.

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First Published: Mon, February 08 2021. 18:45 IST