State-owned NMDC Ltd on Tuesday (November 11) reported an 18.1% year-on-year (YoY) increase in net profit at ₹1,211.6 crore for the second quarter that ended on September 30, 2024.
In the corresponding quarter of the previous fiscal, NMDC posted a net profit of ₹1,026 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹1,433 crore for the quarter under review.
The company's revenue from operations surged 22.5% to ₹4,919 crore against ₹4,014 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of ₹4,681 crore for the quarter under review.
At the operating level, EBITDA was up 16.4% to ₹1,385.7 crore in the second quarter of this fiscal over ₹1,191 crore in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted an EBITDA of ₹1,672 crore for the quarter under review.
The EBITDA margin stood at 28.2% in the reporting quarter versus 29.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 35.7% for the quarter under review.
The board has approved the issuance of bonus shares to the shareholders of the company in the ratio of 2:1, i.e. two bonus equity shares of face value ₹1 each for every one existing equity share of face value of ₹1 each, to the eligible members of the company as on the record date, subject to the approval of the shareholders of the company.
NMDC's board has also approved an increase in the company's authorised share capital from ₹400 crore, divided into 400 crore equity shares of ₹1 each, to ₹1,000 crore, divided into 1,000 crore equity shares of ₹1 each. This increase is subject to the necessary regulatory approvals.
The results came after the close of the market hours. Shares of NMDC Ltd ended at ₹232.95, down by ₹2.70, or 1.15%, on the BSE.
