NMDC Ltd on Tuesday said its consolidated net profit rose over 22 per cent to around Rs 2,276.94 crore during the quarter ended March.

It had clocked a net profit of Rs 1,862.09 crore in the January-March quarter of FY22, the company said in a regulatory filing.

However, the company’s total income fell to Rs 5,842.52 crore in the fourth quarter of the last fiscal from Rs 7,117.89 crore in the year-ago period.

The expenses of the company declined to Rs 3,794.18 crore as against Rs 4,197.73 crore a year ago.

Its board has approved a final dividend of Rs 2.85 per share of face value of Re 1 each for FY23.

NMDC, under the Ministry of Steel, is the country’s largest iron ore producing company.