Government of India owned public enterprise NMDC, the country’s largest iron ore miner, showed a 53.4 per cent year-on-year rise in net profit at Rs 2,108.05 crore for the quarter ended December 31 (Q3FY21). The company registered 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 posted a rise of 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, NMDC 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.
National Mineral Development Corporation (NMDC) was incorporated in 1958. The company is under the administrative control of the Ministry of Steel, Government of India.
