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NMDC Q4 profit up to Rs 1,106 crore

NMDC Q4 profit up to Rs 1,106 crore
New Delhi: State-owned miner NMDC on Tuesday reported an over two-fold rise in its standalone profit at Rs 1,105.8 crore for the March 2018 quarter. The company had posted a standalone profit of Rs 511.8 crore in the year-ago period, NMDC said.
Its income increased to Rs 4,053.1 crore, over Rs 3,006.21 crore in the January-March quarter of FY17, the statement said. However, total expenses of the company increased to Rs 2,059.8 crore, over Rs 1,976 crore in the year-ago period.
NMDC is country's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanised mines, according to its website. The Company's production of iron ore during the fourth quarter is 11.35 million tonnes (MT) registering an increase of 9 per cent over the corresponding period last year (CPLY) while sales of iron ore was 10.54 MT which is about 8 per cent more than that of the CPLY.
Congratulating all the employees and Board Members CMD N Baijendra Kumar said that their inspired efforts during NMDC's Diamond Jubilee Year would infuse a level of confidence among stakeholders and he also emphasised on NMDC's belief in triple bottom line principle of people, planet and profit through deliberate inclusion of public interest into its corporate decision
making.
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