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NMDC sees increase in net profit for December quarter

Tuesday, 14 February 2017 15:29:07 (GMT+3)   |   Istanbul
       
Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the third quarter and for the first nine months ended December 31 of the financial year 2016-17.
 
In the third quarter, NMDC's net profit increased by 41.3 percent to INR 5.95 billion ($88.91 million) compared to the same quarter of the previous financial year. The company's net sales in the third quarter amounted to INR 24.97 billion ($373.14 million), up 64.6 percent year on year. 
 
Meanwhile, in the April-December period, the company’s net profit declined by 7.8 percent to INR 20.57 billion ($310.34 million), while its net sales increased by 20.9 percent to INR 59.57 billion ($890.06 million), both year on year.

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