State-owned NMDC on Thursday said its consolidated net profit fell 36 per cent to Rs 1,812.98 crore for the quarter ended March 31, weighed down by higher expenses.
The company had clocked Rs 2,835.54 crore net profit during the January-March quarter of 2020-21, NDMC said in a regulatory filing.
During the quarter under review, the company’s total income rose marginally to Rs 7,034.83 crore, from Rs 6,932.75 crore in the year-ago period.
Total expenses soared to Rs 4,156.62 crore, as against Rs 2,668.36 crore a year ago.
Hyderabad-based NMDC, under the Ministry of Steel, is the country’s largest iron ore producing and selling company. PTI ABI DRR
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