National Mineral Development Corporation Ltd (NMDC) saw a 2 percent intraday decline in its shares on November 15 as investors engaged in profit-taking activities. Despite this dip, the mining giant reported a commendable 15 percent surge in its net profit for the second quarter.
As of 12:36 pm, NMDC’s stock was trading at ₹170.15 on the NSE, reflecting a temporary setback amid overall positive financial performance.
The country’s largest iron ore producer marked a substantial 15.7 percent increase in its consolidated net profit for the second quarter, attributed to robust demand in the market. NMDC’s net profit soared to ₹1,024.86 crore in the three months ending September, up from ₹885.65 crore in the corresponding period a year earlier, according to a statement released by the state-run company on November 14.
The impressive financial results also showcased a significant 20 percent growth in revenue from operations, reaching ₹4,013.98 crore in the September quarter compared to ₹3,328.5 crore last year.
