NMDC Q3 profit jumps 78% YoY to Rs 1,577 crore
NMDC board has approved buyback of 10,20,40,815 equity shares at Rs 98 per share.
By Rakhi Mazumdar, ET Bureau |
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Kolkata: NMDC’s has posted a 78% jump in net profit to Rs.1,577 crore against Rs.887 crore in 2017-18 (Q3).The company's turnover of Rs.3,649 crore for the third quarter 2018-19 is against Rs.2,469 crore, in Q3 2017-18 registering growth of 48%. Profit Before Tax (PBT)went up 61% to Rs.2,211 crore against Rs.1,377 crore in Q3 2017-18.
The company’s production of iron ore for the third quarter 2018-19 was 9.54 Million Tonnes (MT) while sales of iron ore was at 8.70 MT.
NMDC Board has approved buyback of 10,20,40,815 equity shares of Re.1/- each at Rs.98 per share for an aggregate consideration not exceeding Rs.1,000 crore. The company has already initiated the process of buyback.
The third quarter results for 2018-19 were approved by the board of directors of the company on Thursday.
The company’s production of iron ore for the third quarter 2018-19 was 9.54 Million Tonnes (MT) while sales of iron ore was at 8.70 MT.
NMDC Board has approved buyback of 10,20,40,815 equity shares of Re.1/- each at Rs.98 per share for an aggregate consideration not exceeding Rs.1,000 crore. The company has already initiated the process of buyback.
The third quarter results for 2018-19 were approved by the board of directors of the company on Thursday.
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