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NMDC Q2 net up 10% at 844 cr
Country’s largest iron ore miner NMDC’s net profit rose by 9.54 per cent to Rs 844.30 crore for the second quarter ended September 2017.
Hyderabad: Country’s largest iron ore miner NMDC’s net profit rose by 9.54 per cent to Rs 844.30 crore for the second quarter ended September 2017. The public-sector major had reported Rs770.76 crore net profit in the July-September quarter of the last fiscal, according to a release. Total income during the second quarter increased to Rs2,531.18 crore from Rs 2,012.64 crore a year ago.
NMDC board led by company's CMD N Baijendra Kumar has approved the second quarter results for 2017-18. “While congratulating employees for their efforts in achieving the highest records of production, sales and turnover during quarter, Baijendra Kumar said: “NMDC has posted a turnover of Rs2,421 cr during the second quarter of 2017-18, representing an increase of 39% over the previous corresponding quarter.
The company has recorded profit before tax (PBT) of Rs1,241 cr and PAT of Rs844 cr in the second quarter of 2017-18 which is up by around 19 per cent and 10 per cent respectively over corresponding period last year (CPLY). NMDC’s total turnover for the first half of FY18 was Rs5,263 cr, PBT Rs2,809 cr and PAT Rs1,814 cr, which increased by 52 per cent, 31 per cent and 22 per cent over the CPLY respectively.
