Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the third quarter ended on December 31 of the financial year 2012-13.
In the third quarter, NMDC's net profit decreased by 30 percent to INR 12.9 billion ($240 million) compared to the same quarter of the previous financial year. The company's turnover in the third quarter amounted to INR 20.5 billion ($381 million), down 27 percent year on year.
In the given quarter, NMDC produced 5.4 million mt of iron ore, down 25 percent year on year, while the company's iron ore sales amounted to 5.3 million mt, falling 17 percent compared to the corresponding quarter of the previous financial year.