India's largest state-owned
iron ore producer and exporter NMDC, which produces about 30 million metric tons of
iron ore per year, announced its financial results for the third quarter ended December 31 of the Indian fiscal year 2009-10.
Accordingly, in the quarter in question, NMDC's net sales amounted to Rupees 15.88 billion ($343.43 million), decreasing by 38.2 percent, while its net profit totaled Rupees 8.61 billion ($186.64 million), down 39.65 percent, both compared to the corresponding period of the previous fiscal year.
On the other hand, in the first nine months of the fiscal year 2009-10, the company's net sales reached Rupees 42.56 billion ($922.55 million), declining by 24.38 percent year on year, and its net profit decreased by 28.25 percent to Rupees 24.05 billion ($521.26 million).