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India’s largest iron ore producer NMDC has reported a marginal increase in its net profit for the quarter ended December 31 at Rs 1593 crore, up from Rs 1567 crore in the year-ago period.
During the quarter, its total income rose to Rs 2,946 crore, from Rs 2,823.17 crore in the corresponding quarter of last fiscal.
The company’s board of directors, which met today, declared a second interim dividend of Rs 4.25 per share of Re 1 each for the current fiscal.
The company has produced 25.68 million tonnes of iron ore so far this fiscal from its Chattisgarh and Karnataka mines, as against 23.23 million tonnes in the corresponding period of last fiscal.
The company bowed to pressure from steel companies and slashed its prices to Rs 3,750 per tonne for lumps (from Rs 4,200 last month) and Rs 2,760 for fines (Rs 3,060).
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