NMDC has reported a 39.65% decline in net profit to Rs 859.9 crore for the quarter ended December 31, 2009 compared to Rs 1424.9 crore in the corresponding quarter of the previous year.
Total income during the period decreased from Rs 2566.6 crore to Rs 1833.4 crore.
Meanwhile, NMDC has entered into a memorandum of Understanding with Tata Steel to explore the possibility of acquisition, exploration and development of mines, extraction and processing of minerals, setting up integrated steel plants and other businesses.
The stock of NMDC is trading at Rs 539, higher by Rs 7 or 1.4%, on the BSE.
