Public sector mining major NMDC has reported a consolidated net profit of ₹1,394.40 crore for the quarter ended December or a little over 11% from the year earlier period’s ₹1,569.77 crore.
The decline in net profit came in the back of a drop in the revenue from operations during the quarter to ₹3,006.38 crore (₹3,649.44 crore). Total income was ₹3136.59 crore (₹3,785.73 crore). On a standalone basis, the net profit (from continuing operations) declined 12.69% to ₹1,376.57 crore (₹1,576.77 crore).
The company has declared an interim dividend of ₹5.29 per equity share of face value of ₹1 each for 2019-2020.
Chairman-cum-managing director N. Baijendra Kumar said NDMC would not only surpass last year’s performance but also excel the targets set for the year. The company’s share closed with a gain of 1.88% at ₹116.30 apiece.
