NMDC net profit slips in Jan-Sep despite higher revenue

India's NMDC reported a slight decline in consolidated net profit for the quarter ended September 2026, despite higher revenue.

Consolidated revenue from operations increased by 4.1 pct YoY to INR 6,638.23 crore (USD 705 mln) in the July-September quarter, compared with INR 6,378.11 crore a year earlier. Consolidated net profit declined by 1.8 pct YoY to INR 1,668.53 crore (USD 177 mln).

Higher royalty and other levies, employee costs and other expenses weighed on earnings during the quarter, offsetting the increase in revenue. Royalty and other levies rose to INR 2,830.14 crore (USD 300 mln) from INR 2,177.03 crore a year earlier.

For the April-September period, consolidated revenue increased by 2.4 pct YoY to INR 13,433.48 crore (USD 1.43 bln), while net profit edged down by 0.6 pct to INR 3,644.86 crore (USD 387 mln).

NMDC's iron ore production increased by 22 pct YoY to 32.32 mln tons in the April-October period, while sales declined by 1.7 pct to 25.67 mln tons, according to the company's earlier stock exchange filing.

NMDC is India's largest iron ore producer, operating the Bailadila mines in Chhattisgarh and the Donimalai and Kumaraswamy mines in Karnataka. The company aims to increase its iron ore production capacity to 100 mln tons per annum by FY2031.

1 USD / 94.2 INR