NMDC Q3 Results: Net profit jumps 68% to Rs 1,493 crore; board declares dividend
PSU iron ore producer National Mineral Development Corporation (NMDC) on Wednesday reported a 67.7 per cent year-on-year jump in standalone net profit to Rs 1,492.7 crore for the October-December period (Q3 FY24).
State-run iron ore producer National Mineral Development Corporation (NMDC) on Wednesday reported a standalone net profit of Rs 1,492.7 crore for the October-December period (Q3 FY24), an increase of 67.7 per cent compared with the corresponding period a year ago that was better than analysts' expectations.
The PSU's revenue grew to Rs 5,409.9 crore for the fiscal third quarter from Rs 3,720 crore a year ago, according to a regulatory filing.
According to Zee Business research, NMDC's third-quarter standalone net profit was estimated at Rs 1,380 crore and revenue at Rs 5,142 crore.
NMDC dividend
The state-run iron ore company's board declared an interim dividend of Rs 5.75 per share with a record date of February 27.
NMDC shares: Past performance
As of February 13, NMDC shares have rewarded investors with a return of 96 per cent in the past year, outperforming a rise of 21 per cent in the headline Nifty50 index.
The NMDC stock rose 41.6 per cent in the third quarter of the current financial year while the benchmark index rose 10.7 per cent.
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