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NMDC Q1 net profit rises 21 pc to Rs 1,178 cr

Press Trust of India  |  New Delhi 

State-owned miner NMDC on Tuesday reported 21 per cent rise in consolidated net profit to Rs 1,178.01 crore for June quarter 2019 on the back of higher income.

The company had posted a profit of Rs 974.29 crore in the year-ago quarter, NMDC said in a filing to the BSE.

Total income during the quarter under review rose to Rs 3,386.65 crore from Rs 2,547.33 crore in April-June, 2018-19.

Total expenses stood at Rs 1,474.76 crore as compared to Rs 1,071.66 crore in the year-ago period.

In a separate statement, NMDC said its iron ore production in during April-June 2019 stood at 8.43 million tonnes (MT) as against 6.98 MT in same quarter in 2018-19, a growth of 21 per cent.

The iron ore sales increased by 28 per cent to 8.67 MT in first quarter of the 2019-20 fiscal, from 6.78 MT in April-June 2018-19, it said.

"These are the best ever performance since inception for first quarter excluding Donimalai which was non-operational in Q1 FY 20," NMDC said.

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

First Published: Tue, August 13 2019. 21:20 IST