{"id":5309,"date":"2019-05-29T04:31:52","date_gmt":"2019-05-29T04:31:52","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=5309"},"modified":"2019-05-29T04:31:52","modified_gmt":"2019-05-29T04:31:52","slug":"nmdc-q4-profit-up-31-to-rs-1453-crore-for-the-march-quarter","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/nmdc-q4-profit-up-31-to-rs-1453-crore-for-the-march-quarter\/","title":{"rendered":"NMDC Q4 profit up 31% to Rs 1,453 crore for the March quarter"},"content":{"rendered":"<div id=\"story-maincontent\" class=\"ad-blocker-ajax tbl-forkorts-article\">\n<div class=\"story-right relatedstory\">\n<p style=\"text-align: justify;\">State-owned miner NMDC Tuesday recorded an over 31 per cent rise in standalone net profit at Rs 1,453.77 crore for quarter ended March 31, 2019.<\/p>\n<p style=\"text-align: justify;\">The company had reported a standalone profit of Rs 1,105.85 crore in the year-ago quarter, NMDC said in a filing to the BSE.<\/p>\n<p style=\"text-align: justify;\">Total income during the March quarter dropped to Rs 3,839.40 crore from Rs 4,053.16 crore in January-March 2018, the statement said.<\/p>\n<p style=\"text-align: justify;\">Total expenses for the latest quarter also slipped to Rs 1,641.65 crore from Rs 2,059.84 crore in the last fiscal year.<\/p>\n<p style=\"text-align: justify;\">The company&#8217;s production of iron ore during the fourth quarter is 10.59 million tonne, a decline of 7 per cent over the corresponding period last year (CPLY) while sales were at 10.17 MT which was about 3 per cent less than that of CPLY, NMDC said.<\/p>\n<p style=\"text-align: justify;\">In a press briefing, NMDC chairmanN Baijendra Kumar\u00a0 that there was a decrease in output because of issues at Donimalai where the production is stalled at present.<\/p>\n<p style=\"text-align: justify;\">Previously, NMDC had suspended iron ore-mining at the Donimalai mine in Karnataka following the state government&#8217;s decision to impose 80 per cent premium on the iron ore sales from the mine.<\/p>\n<p style=\"text-align: justify;\">On Nagarnar steel plant in Chhattisgarh, the chairman said the company has set Rs 2,200 crore capex for the current fiscal.<\/p>\n<p style=\"text-align: justify;\">Until now Rs 15,300 crore has already been spent on construction of Nagarnar steel plant, said N Baijendra Kumar.<\/p>\n<p style=\"text-align: justify;\">NMDC is country&#8217;s single largest iron ore producer, presently producing about 30 million tonnes of iron ore from three fully mechanised mines, according to its website.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>State-owned miner NMDC Tuesday recorded an over 31 per cent rise in standalone net profit at Rs 1,453.77 crore for quarter ended March 31, 2019. The company had reported a standalone profit of Rs 1,105.85 crore in the year-ago quarter, NMDC said in a filing to the BSE. Total income during the March quarter dropped [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3955,3954,3953],"class_list":["post-5309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-cply","tag-iron-ore-production","tag-nmdc"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NMDC Q4 profit up 31% to Rs 1,453 crore for the March quarter - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/nmdc-q4-profit-up-31-to-rs-1453-crore-for-the-march-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NMDC Q4 profit up 31% to Rs 1,453 crore for the March quarter - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"State-owned miner NMDC Tuesday recorded an over 31 per cent rise in standalone net profit at Rs 1,453.77 crore for quarter ended March 31, 2019. The company had reported a standalone profit of Rs 1,105.85 crore in the year-ago quarter, NMDC said in a filing to the BSE. 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