Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the third quarter and nine months ended December 31 of the financial year 2018-19.
Accordingly, in the third quarter, NMDC recorded a net profit of INR 15.77 billion ($220.78 million) compared to the net profit of INR 8.86 billion in the same quarter of the previous financial year, rising by 78 percent. Sales revenues in the third quarter amounted to INR 36.5 billion ($511 million), up 48 percent year on year.
In the given quarter, NMDC's iron ore sales volume totaled 8.7 million mt, while its iron ore production amounted to 9.54 million mt.
In the nine-month period ended December 31, NMDC’s net profit amounted to INR 31.89 billion ($446.46 million), compared to INR 27 billion in the same period of 2017. Sales revenues in this period, on the other hand, totaled INR 85.09 billion ($1.2 billion), compared to INR 77.32 billion in the same period of the previous year, rising by 10 percent year on year.