NMDC consolidated profit drops marginally to Rs 2,048 cr in Dec quarter

State-owned NMDC on Tuesday reported a marginal 2.8 per cent drop in consolidated profit at Rs 2,048.40 crore for the quarter ended December 31, 2021 on the back of higher expenses.

The company had reported a profit of Rs 2,108.05 crore for the year-ago period, NMDC said in a filing to BSE.

However, the company's income during the quarter increased to Rs 6,026.68 crore, over Rs 4,460.97 crore in the year-ago period.

Expenses during the third quarter rose to Rs 3,332.44 crore from Rs 1,650.56 crore in the year-ago period, the filing said.

The board approved "second interim dividend at the rate of Rs 5.73 per equity share of face value of Re 1 each for the financial year 2021-22."

The Hyderabad-headquartered firm under Ministry of Steel, is the country's largest iron ore mining company.

It is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.