On May 23, 2023, the publicly traded company NMDC Ltd. announced a jump of 22 percent in its standalone net profit, which came in at Rs 2,277 crore for the quarter that ended March 31, 2023. In the same time period last year, the biggest iron ore firm in the country reported a profit of 1,862 crore Indian rupees.
When compared to the same period in the previous fiscal year, the company’s income from operations decreased by 13.8 percent, going from Rs 6,785 crore to Rs 5,851 crore during the March quarter.
EBITDA, which stands for profits before interest, tax, depreciation, and amortisation, decreased by 20.6% to Rs 2,162 crore in the fourth quarter of the current fiscal year compared to Rs 6,785.3 crore in the same period of the previous fiscal year.
The EBITDA margin for the reporting quarter came in at 37 percent, which is a significant decrease from the 40.2 percent it was at during the same time in the prior fiscal year.
In addition, the board of directors of NMDC has announced a final dividend that will be paid out at Rs 2.85 per share. This dividend is expected to be paid out within a period of thirty days beginning on the day of the company’s annual general meeting (AGM). According to a document that the firm made with the regulatory agency, the final dividend is in addition to the interim dividend of Rs 3.75 per equity share that was previously announced and paid throughout the course of the financial year.
On the other hand, shares of NMDC finished the day of May 23 up by 0.62 percent, trading at Rs 105.80 per share on the BSE.