NMDC Reports 8% Dip in Q3 Profits Amid Rising Expenses

NMDC Ltd reported an 8% decrease in net profit for the December quarter, despite a 15% increase in total income. The rise in expenses contributed to the decline. The company announced an interim dividend, reinforcing its position as India's leading iron ore producer under the Ministry of Steel.

NMDC Ltd has experienced an 8% year-on-year decline in consolidated net profit, despite an increase in total income for the December quarter, the company revealed in an exchange filing.

Total income rose by 15% to Rs 7,983.38 crore, yet higher expenses, which climbed to Rs 5,608.54 crore, impacted profits.

Amid these changes, the board has approved an interim dividend of Rs 2.50 per share, highlighting NMDC's ongoing commitment to its shareholders. As India's primary iron ore producer, NMDC operates under the Ministry of Steel.

(With inputs from agencies.)