NMDC registers standalone net profit of Rs 1,106 cr

NMDC Ltd has registered a standalone net profit of Rs. 1,106 crore for the quarter ending March 31 or an 116% increase compared to the Rs. 512 crore in the corresponding period of previous fiscal. The turnover increased by 35% to Rs. 3,883 crore (Rs. 2,872 crore). Production of iron ore in the fourth quarter of last fiscal was 11.35 million tonnes (MT), thus registering an increase of 9% compared to the achievement a year earlier. Sales of iron ore was 10.54 MT or 8% more than that of the corresponding period of previous fiscal. A press release from the public sector iron ore miner on the financial results approved by the Board of Directors on Monday said during 2017-18 the company produced 35.58 MT (34.01 MT) and sold 36.07 MT (35.62 MT). Chairman-cum-MD, N Baijendra Kumar who is 1985 batch IAS officer of Chhattisgarh cadre emphasized on NMDC’s belief in triple bottom line principle of people, planet and profit through deliberate inclusion of public interest into its corporate decision making.