NMDC Q2 profit grows 10% to Rs 773 crore

Representative Image. Credit: iStock Photo

State-owned NMDC on Tuesday posted over 10 per cent rise in consolidated net profit at Rs 772.53 crore for September quarter 2020-21, on account of reduced expenses.

The company had clocked Rs 701.54 crore net profit in the year-ago quarter, NMDC said in a BSE filing.

Total income during the quarter under review fell to Rs 2,318.67 crore from Rs 2,369.39 crore in the same quarter of the previous fiscal.

Total expenses reduced to Rs 1,256.40 crore from Rs 1,290.67 crore a year ago.

NMDC, under the Ministry of Steel, is the country's largest iron ore miner.

Besides iron ore, it is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.