National Mineral Development Corporation Q2 net profit jumps 19 per cent

Hyderabad: NMDC on Friday posted 19 per cent growth in profit after tax at Rs 1,567 crore during the second quarter of financial year 2015 compared to the year ago’s Rs 1,318 crore.

The sales turnover for the period under review is Rs 3,105 crore as against Rs 2,480 crore of the corresponding quarter in the last fiscal.

Commenting on the results, chairman Narendra Kothari said that NMDC is in the right path to achieve production and sales of iron ore of more than 32 million tonnes for this year.

He appreciated the efforts of the employees for displaying a determined approach to achieve production of more than 50 million tonnes by 2018-19 to meet the rising demand of the steel industry.