State-run iron ore maker NMDC today reported a 20% growth in net profit at Rs 1,801 crore on highest-ever quarterly sales of the key steel making raw material during the April-June period.
The company had recorded Rs 1,504 crore net profit in the corresponding quarter last fiscal, it said in a statement.
Total income of the company grew to Rs 3,224 crore during the quarter form Rs 2,739 crore during the April-June quarter of the last fiscal.
"The net sales for this quarter are the best since inception. This has been possible due to better evacuation and further broadening of customer base," it said.
NMDC's production and sales recorded over seven% growth during the quarter to touch 6.162 million tonne and 6.867 million tonne, respectively over the same quarter last fiscal.
The company said, as part of its expansion programme, it plans to open two new mines - one at Bailadila in Chhattisgarh and the other in the Bellary-Hospet region of Karnataka.
