NMDC Q3 net profit dips to Rs 2,048 cr; board declares interim dividend

State-owned NMDC on Tuesday reported a marginal drop of 2.8 per in consolidated net profit at Rs 2,048.40 crore for the quarter ended December 31, 2021 on the back of higher expenses. The firm had posted a net profit of Rs 2,108.05 crore for the year-ago period.

Meanwhile, 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.

Shares of NMDC on Tuesday closed 0.42 per cent lower at Rs 153.30 apiece on BSE.