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India’s largest iron ore producer NMDC reported consolidated net profit declined 62% for the September quarter to ₹885.65 crore on the back of average (domestic) sales realisation being lower.
The fall in net profit, compared with the ₹2,339.58 crore in the year earlier period, came as total income slid 45% to ₹3,754.77 crore (₹6,882.44 crore).
Production and sales were also lower during the quarter. Compounding the challenge for the mining major was a 48% drop in per tonne average sales realisation to ₹3,890 (₹7,443).
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