Covid-19 impact: NMDC profit drops 55% in June quarter

Impacted by subdued sales and realisation amid the pandemic, state-run iron ore miner NMDC on Thursday reported a 55% decline in net profit and a 40% drop in turnover for the April-June quarter of the current fiscal.

While its profit after tax (PAT) declined to Rs 533 crore during April-June of the current fiscal from `1,179 crore a year earlier, its turnover also fell to Rs 1,938 crore from Rs 3,264 crore.