Iron ore company NMDC released its FY24 June quarter results, revealing a 13% increase in consolidated net profit to ₹1,661.04 crore, driven by higher income. The company’s net profit for the April-June period of FY23 was ₹1,471.24 crore as per regulatory filings.
Total income saw a significant rise to ₹5,688.87 crore from ₹4,913.06 crore in the corresponding period a year ago. Concurrently, total expenses also grew to ₹3,476.55 crore from ₹2,968.94 crore in the previous year.
The EBITDA of NMDC’s iron ore segment reached ₹2,106 crore for the June quarter, up from ₹1,982 crore in the same period the previous year. However, the pellet, other minerals, and services segment reported a loss of ₹36.52 crore, compared to a loss of ₹30.44 crore in FY23.
Shares of NMDC closed 0.18% lower at ₹113.50 on the NSE on Friday.