NMDC’s sales revenues down 4.68 percent in June quarter

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 2016-17.

In the first quarter, NMDC recorded a net profit of INR 7.11 billion ($106.39 million) compared to the net profit of INR 10.15 billion in the same quarter of the previous financial year. Sales revenues in the first quarter amounted to INR 17.2 billion ($257.3 million), down 4.68 percent year on year.

In the given quarter, NMDC's net iron ore sales amounted to a value of INR 17.02 billion ($254.65 million), decreasing by 4.78 percent year on year.