Indian miner NMDC’s net profit down 31 percent in H1

Thursday, 12 November 2020 15:43:24 (GMT+3)   |   Istanbul

Indian state-owned miner NMDC Limited has announced its un-audited financial results for the second quarter and first half ended September 30 of the financial year 2020-21.

Accordingly, in the second quarter, NMDC recorded a net profit of INR 7.74 billion ($103.73 million), compared to the net profit of INR 7.03 billion in the same quarter of the previous financial year, rising by 10 percent. The company’s sales revenues in the second quarter amounted to INR 22.30 billion ($298.88 million), down 0.5 percent year on year. In the given period, the company’s EBITDA was INR 11.18 billion ($149.82 million), decreasing by six percent year on year.

In the first half of the current year, the company recorded a net profit of INR 13.07 billion ($175.07 million), 31 percent lower year on year. The company’s sales revenue in the given period amounted to INR 41.67 billion ($558.41 million), down by 24 percent year on year, while its EBITDA was INR 19.44 billion ($260.51 million), decreasing by 39 percent compared to the same period of 2019.

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