ET Markets
12,119.00-129.25
Stock Analysis, IPO, Mutual Funds, Bonds & More

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.

, ET Bureau|
Last Updated: Jan 31, 2019, 08.13 PM IST|Original: Jan 31, 2019, 08.13 PM IST
0Comments
Getty Images
Mining-Getty-1200
NMDC board has approved buyback of 10,20,40,815 equity shares at Rs 98 per share.
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.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service