NMDC Ltd posted an increase in net profit at ₹886.53 crore for the third quarter ended December 31, 2017 as against a profit of ₹595.16 crore for the corresponding quarter last year.
The iron ore mining major registered a total income of ₹2,469 crore for the quarter, which was lower than ₹2,498 crore the company had logged during the same period last year.
NMDC’s turnover for the nine months ended December 2017 was up 30 per cent at ₹7,732 crore as against ₹5,958 crore in the corresponding period last year. Profit for the nine-months period was up 30 per cent at ₹2,700 crore (₹2,077 crore).
Iron ore production for nine months was up 3 per cent at 24.23 mt (23.63 mt) whiles sales of iron ore was 1 per cent lower at 25.54 mt. The company’s production of iron ore during the third quarter was 8.56 MT, a decrease of 12 per cent over the corresponding period while sales of iron ore was 8.06 mt, down 20 per cent.
During October 6, 2017 to December 12, 2017, there was disruption in Railway Line of Bailadila Sector, resulting in lower despatches during the said period.