NMDC Reports Strong Q1 Performance with 13% Rise in Net Profit

14 Aug 2023 , 11:10 AM

NMDC, the leading iron ore company, announces a 13% rise in consolidated net profit for Q1 to reach Rs 1,661.04 crore, boosted by increased income. In the same period of the previous fiscal year (2022-23), NMDC had achieved a net profit of Rs 1,471.24 crore, as stated in a regulatory filing.

Total income witnesses a substantial surge, reaching Rs 5,688.87 crore from the previous year’s Rs 4,913.06 crore during the same quarter. Correspondingly, total expenses also grow, reaching Rs 3,476.55 crore compared to Rs 2,968.94 crore in the same period the previous year.

NMDC, headquartered in Hyderabad and under the Ministry of Steel, is the country’s largest iron ore mining company. The company’s strong financial performance in Q1 solidifies its prominent position in the iron ore industry.

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