Latest News | NMDC Q4 Net Profit Falls 38 Pc to Rs 1416 Cr
Get latest articles and stories on Latest News at LatestLY. State-owned iron ore miner NMDC on Monday reported a 38 per cent fall in its consolidated net profit to Rs 1,415.62 crore for the March quarter on account of increased expenses.
New Delhi, May 27 (PTI) State-owned iron ore miner NMDC on Monday reported a 38 per cent fall in its consolidated net profit to Rs 1,415.62 crore for the March quarter on account of increased expenses.
It had posted a profit of Rs 2,276.94 crore for the year-ago period, the company said in an exchange filing.
The company's total income rose to Rs 6,908.37 crore in the January-March period from Rs 5,842.52 crore in the same period a year ago. Its expenses surged to Rs 4,519.64 crore from Rs 3,794.18 crore in January-March FY23.
For the whole FY24 fiscal, the company's profit was at Rs 5,571.25 crore, higher than Rs 5,537.72 crore in 2022-23.
Hyderabad-based NMDC is India's largest iron ore mining company catering to the country's around 20 per cent of the steel-making raw material.
(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)