Latest News | NMDC Q3 Profit Drops Marginally to Rs 2,048 Cr

New Delhi, Feb 8 (PTI) State-owned NMDC on Tuesday reported a marginal 2.8 per cent drop in consolidated profit at Rs 2,048.40 crore for the quarter ended December 31, 2021 on the back of higher expenses.

The company had reported a profit of Rs 2,108.05 crore for the year-ago period, NMDC said in a filing to BSE.

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However, the company's income during the quarter increased to Rs 6,026.68 crore, over Rs 4,460.97 crore in the year-ago period.

Expenses during the third quarter rose to Rs 3,332.44 crore from Rs 1,650.56 crore in the year-ago period, the filing said.

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The board approved "second interim dividend at the rate of Rs 5.73 per equity share of face value of Re 1 each for the financial year 2021-22."

The Hyderabad-headquartered firm under Ministry of Steel, is the country's largest iron ore mining company.

It is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)