NMDC Net Profit Jumps 62% to Rs 1,470 Crore in Q3

New Delhi, Feb 14 (PTI) State-owned NMDC on Wednesday posted a 62 pc rise in consolidated net profit to Rs 1,469.73 crore in the December quarter, pushed by higher income.

It had clocked a net profit of Rs 903.89 crore in the year-ago period, the mining company said in an exchange filing.

The company's total income surged to Rs 5,746.47 crore over Rs 3,924.75 crore a year ago.

NMDC's expenses stood at Rs 3,516.78 crore in the third quarter of the current fiscal as against Rs 2,693.01 crore a year ago.

The board of the company has also approved an interim dividend of Rs 5.75 per equity share for 2023-24 and fixed February 27 as the record date for the purpose.

NMDC, under the Ministry of Steel, is India's largest iron ore mining company contributing to around 20 per cent of the country's demand of the key steel making raw material.