NMDC’s Q1 net declines 30% to crore
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.