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NMDC posts 23% YoY profit hike in Q1

NMDC posts 23% YoY profit hike in Q1
The profit growth was driven by foreign exchange gains
NMDC
NMDC
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Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) on Wednesday reported a 23% year-on-year profit increase during the first quarter of 2019.

NMDC’s net profit went up to AED 17.5 million in Q1-19 versus AED 14.2 million a year earlier, according to a bourse statement.

The growth of the company’s profit was driven by AED 9.8 million foreign exchange gains in the first three months of 2019.

In 2018, NMDC posted a 21.7% year-on-year surge in its net profits for the financial year 2018, recording AED 123.088 million.