State-owned NMDC Ltd on Tuesday posted a 22.3 percent year-on-year (YoY) increase in consolidated net profit at Rs 2,276.9 crore for the fourth quarter that ended March 31, 2023.

In the corresponding quarter last year, the company had posted a net profit of Rs 1,862.1 crore, NMDC said in a regulatory filing.

For the March quarter, consolidated revenue stood at Rs 5,851.4 crore during the period under review, declining 13.8 percent as against Rs 6,785.3 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA declined 20.6 percent to Rs 2,162.4 crore in the fourth quarter of this fiscal, down from Rs 2,724.5 crore in the corresponding period in the previous fiscal, the company said.

EBITDA margin stood at 37 percent in the reporting quarter as compared to 40.2 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board of directors recommended the payment of a final dividend of Rs 2.85 per share on the face value of Rs 1 each for the financial year 2022-23, it added.