Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its un-audited financial results for the second quarter and first half ended September 30 of the financial year 2019-20.
Accordingly, in the second quarter, NMDC recorded a net profit of INR 7.03 billion ($97.55 million) compared to the net profit of INR 6.36 billion in the same quarter of the previous financial year, rising by 10.5 percent. Sales revenues in the second quarter amounted to INR 22.41 billion ($311.16 million), down 8.1 percent year on year.
In the first half ended September 30, NMDC’s net profit amounted to INR 18.83 billion ($261.34 million), compared to INR 16.12 billion in the same period of 2018, rising by 16.8 percent. Sales revenues in this period, on the other hand, totaled INR 55.05 billion ($764.1 million), compared to INR 48.6 billion in the same period of the previous year, rising by 13.2 percent year on year.