NMDC Profits Fall 20% on October-December Sales

Platts reported that NMDC Ltd., the state-owned Indian iron ore miner, said its sales and profits in October to December of last year was down more than 20% compared to the previous quarter, and 30% lower than the previous year.

As quoted in the market news:

NMDC’s net sales last quarter totaled Rupee 20.47 billion ($380 million), down 22% from the previous quarter and a decline of nearly 43% from Rupee 28.22 billion the same period in 2011, the company said in an announcement to the Bombay stock exchange.

Click here to read the full Platts report.