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NMDC’s net profit up 22 percent in H1 FY 2017-18

Tuesday, 14 November 2017 16:48:42 (GMT+3)   |   Istanbul
       

Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the second quarter and the first half ended on September 30 of the financial year 2017-18.

In the second quarter, NMDC's net profit increased by 10 percent to INR 8.44 billion ($129 million) compared to the same quarter of the previous financial year. Sales revenues in the given quarter amounted to INR 24.21 billion ($370 million), up 39 percent year on year.

For the first six months of the current financial year, NMDC registered a net profit of INR 18.14 billion ($277.18 million), up 22 percent year on year, while the company's sales revenues went up by 52 percent to INR 52.63 billion ($804.17 million), compared to the corresponding period of the previous financial year.


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