Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the first quarter ended June 30 of the financial year 2017-18.
Accordingly, in the first quarter, NMDC recorded a net profit of INR 9.69 billion ($151.09 million) compared to the net profit of INR 7.11 billion in the same quarter of the previous financial year. Sales revenues in the first quarter amounted to INR 28.41 billion ($442.98 million), up 65 percent year on year.
In the given quarter, NMDC's iron ore sales volume totaled 9.18 million mt, rising by 18 percent from the corresponding quarter of the previous financial year. In particular, NMDC's iron ore exports amounted to 737,000 mt, down one percent, and its domestic sales went up by 20 percent to 8.44 million mt, both on year-on-year basis.