NMDC’s Q1 net de­clines 30% to crore

The Financial Express - - COMPANIES -

State-run iron ore miner NMDC posted 30% plunge in its stand­alone net profit to R711.34 crore for the quar­ter ended June 30. The min­ing gi­ant had clocked a net profit of R1,015.39 crore in the year-ago pe­riod. To­tal in­come too fell by 5% to R1,720.65 crore in April-June of this fis­cal from R1,806.43 crore dur­ing the same quar­ter in 2015-16, it said in a BSE fil­ing. The com­pany’s to­tal ex­penses rose to R960.19 crore from R745.78 crore. Roy­al­ties and other levies topped the ex­penses dur­ing the June quar­ter and stood at R318.16 crore, which was 94% higher than the year-ago pe­riod.

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