business 📈 NMDC Steel profit surges 97.6% despite govt divestment push
NMDC Steel Limited reported a massive 97.6% year-on-year jump in net profit to ₹50.51 crore for the quarter ending June 2026. This performance was recorded by the state-run steelmaker operating in India. For Q1 FY26, revenue from operations hit ₹3,661.84 crore, while the government is actively seeking a buyer for its 50.79% stake. The company is currently in a divestment process, planning to offer NMDC Limited a 10% stake once a suitable buyer is found. This strong profit marks a key moment during the ongoing corporate restructuring efforts.