The Net Margin of NMDC Falls by 17.5 Percent in June Quarter

Indian state-owned miner National Mineral Development Corporation (NMDC) has announced its financial results for the first quarter ended on June 30 of the financial year 2013-14.

In the first quarter, NMDC's net profit decreased by 17.5 percent to INR 15.7 billion ($259 million) compared to the same quarter of the previous financial year. Sales revenues in the first quarter amounted to INR 28.7 billion ($473 million), up slightly compared to the INR 28.4 billion recorded in the corresponding period of the previous financial year.

In the given quarter, NMDC's net iron ore sales amounted to a value of INR 28.3 billion ($467 million), increasing one percent year on year.