India’s largest iron ore producer NMDC has reported a 39% increase in its revenue for the September quarter compared to the same period last year. Net profit increased 10%.
The increase in revenue and profit was mainly due to increase in pricing and volume, the company said.
Total iron ore production for the second quarter was up 14% on year at 7.18 million tons, while sales was 8.30 MT which is about 4% more than that of last year.
NMDC has posted a Turnover of Rs 2,421 Cr for the period, while net profit increased to 844 cr.
Profit before tax was at Rs 1,241 Cr, up 19%.
With this, NMDC’s production of iron ore for the first half is higher by 13%, while sales volumes are up 11%.