Shares of NMDC Ltd. fell the most since August after the state-run iron ore miner’s revenue remained flat and margin contracted in the first full quarter of operations after the nation eased the coronavirus lockdown curbs.
Net profit rose 10% over the year earlier to Rs 774.2 crore in July-September period, according to an exchange filing, as other expenses fell. That compares with the Rs 714.3-crore consensus estimate of analysts tracked by Bloomberg. Its revenue remained flat at Rs 2,229 crore compared with the Rs 2,328.1-crore forecast.
Operating profit—or earnings before interest, tax, depreciation and amortisation—fell 3% year-on-year to Rs 1,030.2 crore, against the estimated Rs 991.1 crore. The miss in Ebitda, according to a post-earnings note by Motilal Oswal, was due to lower-than-expected realisations. NMDC’s operating margin contracted 110 basis points to 46.2% in…