NMDC Shares Hit 52-week High On The Back Of Strong Q3 Fy24 Results

New Delhi: State-owned NMDC shares hit 52-week high on the back of strong Q3 FY24 results. NMDC clocked a net profit of Rs 1,469.73 crore in the December quarter as compared to Rs 903.89 crore in the year-ago period. It posted a 62 percent rise in its net profit for Q3 FY24.

At 11.32 am the shares of NMDC were trading higher by 5.41 or Rs 12.75 at Rs 248.30 apiece.

NMDC, under the Ministry of Steel, is India's largest iron ore mining company contributing to around 20 per cent of the country's demand of the key steel making raw material.

The company's total income surged to Rs 5,746.47 crore over Rs 3,924.75 crore a year ago.
NMDC's expenses stood at Rs 3,516.78 crore in the third quarter of the current fiscal as against Rs 2,693.01 crore a year ago.

The board of the company has also approved an interim dividend of Rs 5.75 per equity share for 2023-24 and fixed February 27 as the record date for the purpose.

With PTI Inputs