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Indian iron ore mining giant NMDC said that its consolidated net profit fell over 54 per cent to INR 531.35 crore in the first quarter ended June 30, mainly on account of lower income due to COVID-19.The company had posted INR 1,178 crore net profit during the same quarter a year ago. NMDC’s total income declined to INR 2,009 crore in the April-June quarter 2020, from INR 3,386 crore in the year ago-period.

 

During the quarter under review, the company's expenses stood at INR 1,250 crore, as against INR 1,474 crore in the same period previous fiscal.