NMDC sees marginal growth in Q1 profit at ₹975 crore

13-Aug-2018

Iron ore mining major NMDC has registered a profit of ₹975 crore for the first quarter ended June 30, 2018, registering a marginal increase from ₹969 crore clocked in the first quarter of 2017-18.

The company’s sales turnover was down 15 per cent at ₹2,422 crore (Rs 2,842 crore). The company’s production and sales of iron ore during the quarter under review were 6.98 million tonnes and 6.78 million tonnes, respectively.

1. Baijendra Kumar, CMD, NMDC, said the company would be able to do well in the forthcoming quarters notwithstanding the challenges in Donimalai and Bailadila sectors.

The company reported production and sales of iron ore (provisional) upto the month of July 2018 5.50 million tonnes from Chhattisgarh and 2.89 million tonnes from its Karnataka mines.

Source: THE HINDU BUSINESSLINE