NMDC Ltd Q2 results, shares plummets 1.05%, 17% rise in net profit

Iron-ore giant National Mineral Development Corporation Limited announced the second quarter results. The company recorded nearly a 17% rise in net profits at Rs 1,195.63 crore for the second quarter of the financial year 2024-25, compared to Rs 1,024.86 crore in the same quarter the previous year, according to the BSE filing on Monday. 

The company recorded a 22.54% hike in the revenue from core operations to Rs 4,918.91 crore in the second quarter, compared to Rs 4,013.98 crore in the corresponding previous year.

The company's revenues from its Iron Ore segment increased 18.82% to Rs 4,749.04 crore, compared to Rs 3,996.67 crore in the same period the previous year. 

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The expenses for the quarter also increased by 25% at Rs 3,665.47 crore, compared year-on-year with Rs 2,930.95 crore.

“Issuance of Bonus Shares to the shareholders of the Company in the ratio of 2:1, i.e. 2 Bonus Equity Shares of face value Rs 1/- each fully paid up; for every 1 (One) existing equity share of face value of Rs 1/- each fully paid up, to the eligible members of the Company as on the record date, subject to the approval of the shareholders of the company,” said the company in an exchange filing.

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