NMDC reports over 31 pct rise in Q4 standalone profit; total expenses fall

The National Mineral Development Corporation (NMDC), Indian state-controlled mineral producer, Tuesday reported an over 31 per cent rise in standalone profit at Rs 1,453.77 crore for quarter ended March 2019. The company had posted a standalone profit of Rs 1,105.85 crore in the year-ago quarter, NMDC said in a filing to the BSE.

Total income during the March quarter declined to Rs 3,839.40 crore from Rs 4,053.16 crore in January-March 2018, the statement said. Total expenses for the latest quarter also fell to Rs 1,641.65 crore from Rs 2,059.84 crore in the year-ago period. The NMDC is country's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from three fully mechanised mines.