NMDC Q1 net profit down 53.98% at Rs 1469.44 cr
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The company reported standalone net profit of Rs 1,469.44 crore for the quarter ended June 30, 2022 as compared to Rs 3192.84 crore in the same period last year, registering a year-on-year decline of 53.98 per cent. Net revenue of the company declined substantially by 26.80 per cent at Rs 4,767.07 crore in April-June quarter of this fiscal as against Rs 6,512.21 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 22.81 per cent to Rs 2,866.96 crore from Rs 2,334.54 crore in year ago period. Other Income grew by 1.30 per cent at Rs 145.96 crore versus (Jun'21 Rs 144.09 crore). Operating Profit slipped by 54.52 per cent to Rs 1,900.11 crore as against Rs 4,177.67 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 37.86 per cent in June quarter. Interest grew by 411.33 per cent y-o-y to Rs 15.34 crore, while Taxation decreased by 55.50 per cent at Rs 476.34 crore (Jun'21 Rs 1,070.54 crore).
