Indian iron ore miner sees 56% fall in net profit in Q3 FY 2022-23

Indian iron ore miner NMDC Limited has reported a net profit of INR 9.04 billion ($109 million) in the third quarter (October-December) of the fiscal year 2022-23, a decline of 56 percent year on year, a company regulatory filing said on Wednesday, February 15.

The company’s total income was reported at INR 39.247 billion ($474 million), a decline of nearly 50 percent year on year.

The government-run miner achieved iron ore production of 10.66 million mt during the third quarter, up from 9.58 million mt in the corresponding quarter of the previous fiscal year.