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NMDC Q4 results: Net profit rises 22% to Rs 2,277 cr, revenue falls 13%

The company's revenue from operation fell by 13.76 per cent to Rs 5,851 crore for the March quarter as compared to Rs 6,785 crore in the year-ago period

Govt to sell up to 7.5% in NMDC via OFS on Tuesday, may get Rs 3,621 cr

BS Web Team New Delhi

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State-owned NMDC Ltd, on Tuesday, posted a net profit of Rs 2,277 crore for the March quarter. This is 22.28 per cent rise from Rs 1,862 crore a year ago, the company statement said.

The company’s revenue from operation fell by 13.76 per cent to Rs 5,851 crore for the March quarter as compared to Rs 6,785 crore in the year-ago period.

In a regulatory filing, the company said, “the board of directors of the company has recommended the payment of final dividend of Rs 2.85 per share on the face value of Rs 1 /- each for the financial year 2022-23, subject to approval of the shareholders in the ensuing Annual General Meeting (AGM).”

“This is in addition to the interim dividend of Rs 3.75 per equity share already declared and paid during the financial year. The final dividend for the financial year 2022-23 of Rs. 2.85 per share, if declared at the ensuing AGM, will be paid to the shareholders within 30 days from the date of AGM,” the company said.

Earlier this month NMDC Ltd reported an 11.42 per cent rise in its iron ore production of 3.51 million tonne (MT) in April 2023. It produced 3.15 MT of iron ore in the same month last year, NMDC said in a BSE filing.

Last month, the company's sales rose by around 10 per cent to 3.43 MT from 3.12 MT in April 2022.

Besides iron ore, Hyderabad-based NMDC is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.

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First Published: May 23 2023 | 8:04 PM IST

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