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NMDC's Q4 net profit up 116.0% YOY to 11.06B rupees

National Mineral Development Corp. Ltd., or NMDC, said May 28 that stand-alone net profit in its fiscal fourth quarter ended March 31 increased 116.0% year over year to 11.06 billion Indian rupees, with total revenue rising 34.8% to 40.53 billion rupees.

In the corresponding year-ago quarter, the Indian state miner booked a net profit of 5.12 billion rupees, with revenue of 30.06 billion rupees.

Iron ore production during the quarter increased 9.3% yearly to 11.3 million tonnes, with total sales up 7.8% to 10.5 million tonnes.

For the full fiscal year ending March 31, NMDC booked a 47.0% higher net profit of 38.06 billion rupees, with total revenue increasing 24.6% to 121.35 billion rupees. The company also produced 35.6 million tonnes of iron ore, reflecting a rise of 5%, with total iron ore sales higher by 1.3% to 36.1 million tonnes.

As of May 28, US$1 was equivalent to 67.43 Indian rupees.