Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the financial year 2017-18 ended March 31, posting a net profit of INR 38.05 billion ($561.59 million), increasing by 47 percent year on year. Sales revenues in the given period amounted to INR 116.14 billion ($1.71 billion), up 31.5 percent year on year, due to higher domestic and export sales prices.
In the given year, the company's total iron ore sales increased by one percent to 36.07 million mt, with its export sales falling by five percent to 2.59 million mt and its domestic sales totaling 33.47 million mt, up two percent, all on year-on-year basis.