State-owned NMDC, as announced on Wednesday, has witnessed a notable 62% rise in consolidated net profit, reaching ₹1,469.73 crore during the December quarter. This substantial growth trajectory has been primarily fueled by an upsurge in income streams.
Compared to the corresponding period last year, where the company recorded a net profit of ₹903.89 crore, NMDC has exhibited remarkable progress, according to a filing with the exchange.
Furthermore, the total income of the company has seen a substantial uptick, reaching ₹5,746.47 crore compared to ₹3,924.75 crore registered a year ago.
In terms of expenses, NMDC reported ₹3,516.78 crore in the third quarter of the current fiscal, as opposed to ₹2,693.01 crore in the same period last year, indicating a strategic allocation of resources amidst a competitive landscape.
The board of NMDC has endorsed an interim dividend of ₹5.75 per equity share for the fiscal year 2023-24. February 27 has been earmarked as the record date for shareholders to be eligible for the dividend.
Being under the purview of the Ministry of Steel, NMDC stands as India’s premier iron ore mining company, playing a pivotal role in fulfilling approximately 20% of the nation’s demand for this crucial steel-making raw material.
