NMDC has posted a lower profit of ₹1,375 crore for the third quarter ended December 2019, down 12.75 per cent from ₹1,576 crore it logged in the corresponding quarter of the previous year on consolidated basis.

The State-owned mining company registered lower income of ₹3,137 crore for the third quarter against ₹3,786 crore in the same quarter of the last fiscal.

The board of the company has declared interim dividend of ₹5.29 per equity share of ₹1 each for 2019-20.

Iron ore production and sales for the nine months of the financial year 2019-20 has registered a growth of 1per cent and 3 per cent respectively.

The turnover of ₹8,512 crore for the nine months of the financial year 2019-20 has marginally surpassed the turnover of the corresponding nine months of the previous fiscal at ₹8,509 crore, despite non-operation of Donimalai mines.

Profit before tax for the nine months of the financial year 2019-20 is down 7 cent to ₹4,640 crore from ₹5,001 crore, while profit after tax has registered a growth of 2 per cent at ₹3,259 crore over ₹3,188 crore.

N Baijendra Kumar, CMD, NMDC, said the company would not only surpass last year’s performance but also exceed the targets set for the year.