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Iron ore mining major NMDC Ltd has posted a steep drop in its net profit and income during the first quarter ended June 30, 2015.
According to a company statement posted on its website, NMDC has posted a net profit of Rs 1,010 crore for the first quarter as against Rs 1,915 crore for the corresponding quarter last year.
The income from operations was also down at Rs 1,806.43 crore for the first quarter as against Rs 3,476.73 crore for the corresponding period last year.
During the last financial year ended March 31, 2015, the company had registered a net profit of Rs 6,421.86 crore and income of Rs 12,356.41 crore.
The company contributed Rs 68 crore in the International Coal Ventures Pvt Ltd during the quarter. With this, the NMDC contribution into the venture thus far has been Rs 281.36 crore, working out to 24.87 per cent in the venture.
NMDC shares closed the day at Rs 103, down 1.30 per cent.
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