NMDC net up 21% to Rs 1,567.3 cr

Total income increased 38% to Rs 2,823 cr from Rs 2,047 crore in the same period

State-owned iron ore miner National Mineral Development Corporation Limited (NMDC) posted a net profit of Rs 1,567.3 crore for the quarter ended December 2013, a rise of 21 per cent, compared with a profit of Rs 1,292.8 crore reported in the corresponding quarter last year.

Total income increased 38 per cent to Rs 2,823 crore from Rs 2,047 crore in the same period. The company's production and sale of iron ore during the quarter stood at 7.30 million tonnes (mt) and 7.34 mt.

"NMDC is in its stride to reach production of ore of 30 mt for the year 2013-14 which would be a record in itself for NMDC in spite of evacuation hurdles. It is evident from these results that NMDC would definitely be in the forefront in the years ahead and move towards ensuring sustainable growth," chairman and managing director, CS Verma said.