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This is an archive article published on August 13, 2012

NMDC Q1 net profit up nearly 6%

State-run iron ore miner NMDC today reported nearly six per cent rise in net profit at Rs 1,906 cr.

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State-run iron ore miner NMDC today reported nearly six per cent rise in net profit at Rs 1,906 crore for the first quarter ended June 30.

The company had clocked Rs 1,801 crore net profit in the same quarter last fiscal.

NMDC’s total income rose to Rs 2,840 crore compared to Rs 2,783 crore a year ago,it said in a BSE filing.

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The company produced 60.72 lakh tonnes iron ore during the quarter,up 12 per cent over the same quarter last fiscal,it added.

However,sales remained flat at 68.55 lakh tonnes during the reported quarter compared to 68.67 lakh tonnes in the year-ago period.

Expenses increased marginally to Rs 571.11 crore from Rs 560.62 crore in the April-June quarter of last fiscal.

Other income rose to Rs 552.14 crore against Rs 440.69 crore a year ago. NMDC,however,did not disclose the source of the “other income”.

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Shares of the company today ended higher by 3.15 per cent at Rs 186.80 on the BSE.

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