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 2017-18.
In the third quarter, NMDC's net profit increased by 49 percent to INR 8.86 billion ($136.72 million) compared to the same quarter of the previous financial year. The company's net sales in the third quarter amounted to INR 25.80 billion ($397.92 million), down 2.75 percent year on year.
Meanwhile, in the April-December period, the company’s net profit rose by 30 percent to INR 27 billion ($416.31 million), while its net sales increased by 20 percent to INR 80.81 billion ($1.24 billion), both year on year.