NMDC Q3 net profit jumps 53% to Rs 2,108 crore

NMDC Q3 net profit jumps 53% to Rs 2,108 crore

Shares of NMDC opened 7% higher at the intraday high of Rs 126 after the state-
owned mining major reported 53% jump in consolidated net profit to Rs 2,108 crore for the quarter ended in December. It had posted a net profit of Rs 1,375 crore during the same quarter a year ago.
During the period under review, total income rose to Rs 4,461 crore from Rs 3,137 crore in the year-ago-period.
Total expenses during the third quarter of 2020-21 financial year stood at Rs 1,650 crore as against Rs 1,491 crore in the same period last year.

EBITDA margin improved to 66% in Q3 FY21 from 50% in Q3 FY20.
NMDC, under the Ministry of Steel, is the country’s largest iron ore miner. Besides iron ore, it is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.

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