Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the financial year 2016-17 ended March 31, posting a net profit of INR 25.89 billion ($401.23 million), decreasing by 4.5 percent year on year. Sales revenues in the given period amounted to INR 88.29 billion ($1.37 billion), up 36 percent year on year.
In the given year, the company's total iron ore sales increased by 24 percent to 35.62 million mt, with its export sales rising by 142 percent to 2.73 million mt and its domestic sales totaling 32.89 million mt, up 19 percent, all on year-on-year basis.