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.