Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the second quarter and the first half ended on September 30 of the financial year 2016-17.
In the second quarter, NMDC's net profit decreased by 5.6 percent to INR 7.7 billion ($113.98 million) compared to the same quarter of the previous financial year. Sales revenues in the given quarter amounted to INR 17.39 billion ($257.42 million), up 8.5 percent year on year.
For the first six months of the current financial year, NMDC registered a net profit of INR 14.8 billion ($219.09 million), down 19 percent year on year, while the company's sales revenues decreased by 1.5 percent to INR 34.59 billion ($512.05 million), compared to the corresponding period of the previous financial year.