Q1 FY'24: NMDC net profit grows 13% to Rs 1,661 crore

New Delhi: Iron ore company NMDC Limited on Friday posted a 13 percent rise in its consolidated net profit to Rs 1,661.04 crore in the April-June quarter, boosted by higher income.

It had clocked a net profit of Rs 1,471.24 crore in the April-June period of the 2022-23 fiscal, the company said in a regulatory filing.

The company's total income surged to Rs 5,688.87 crore from Rs 4,913.06 crore in the year-ago quarter.

Total expenses also grew to Rs 3,476.55 crore as compared to Rs 2,968.94 crore a year ago.

Hyderabad-based NMDC, under the Ministry of Steel, is the country's largest iron ore mining company.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)