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The Hindu

National

Special Correspondent

Early monsoon, lower demand impact NMDC in Q1

India’s largest iron ore producer NMDC reported consolidated net profit fell nearly 55% to ₹1,441.89 crore in the June quarter.

“Early monsoon and a shortfall in demand accounted for a slow Q1,” CMD Sumit Deb said. The State-owned mining major had posted a net profit of ₹3,186.20 crore in the corresponding period last fiscal.

The net profit came on the back of a 27% decline in revenue from operations at ₹4,767.07 crore (₹6,512.21 crore). Total income was at ₹4,913.06 crore (₹6,656.30 crore).

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