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NMDC shines after good Q1 outcome

Capital Market 

NMDC rose 1.43% to Rs 102.6 at 11:05 IST on BSE after the company announced good Q1 June 2019 result after market hours yesterday, 13 August 2019.

Meanwhile, the S&P BSE Sensex was up 334 points or 0.90% to 37292.11.

On a consolidated basis, NMDC's net profit rose 21.1% to Rs 1171.56 crore on a 34.8% rise in the net sales to Rs 3263.74 crore in Q1 June 2019 over Q1 June 2018. Consolidated EBITDA rose 28% to Rs 1989 crore in Q1 June 2019 over Q1 June 2018. However, EBITDA margin contracted to 61% from 64%.

A total of 1.32 lakh shares were traded in shares of the iron ore producer so far compared with average daily volumes of 1.46 lakh shares in the past two weeks. The stock hit a high of Rs 105.3 and a low of Rs 102.45 so far during the day.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 14 2019. 11:10 IST