Feb 13, 2013, 08.18 PM | Source: Moneycontrol.com
Country's largest iron ore producer NMDC's net profit fell more than 30 percent year-on-year to Rs 1,293 crore (lower-than-expected) in the third quarter of financial year 2012-13.
Total income too were below expectations at Rs 2,047.7 crore in December quarter, down 27.4 percent compared to Rs 2,822 crore in a year ago period.
Analysts on an average were expecting net profit at Rs 1,351 crore on revenues of Rs 2,150 crore for the quarter.
However, operating profit margin fell quite sharply to 67.9 percent in the third quarter of FY13 as against 80.1 percent in the corresponding quarter of last fiscal, but was ahead of forecast of 67.1 percent.
Selling expenses including freight out increased four times year-on-year to Rs 176.4 crore during the quarter.
At 14:56 hours IST, shares declined 0.71 percent to Rs 146.05 on Bombay Stock Exchange on Wednesday.
Net Sales are expected to increase by 45.2 percent
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