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NMDC Energy said it did not secure any project awards in the first quarter of 2026.
The company's pipeline stood at 67.4 billion UAE dirhams ($18.35 billion) as of the end of March 2026, according to its first-quarter financial statement, published on the Abu Dhabi Securities Exchange on Tuesday.
Total backlog of the NMDC Group subsidiary reached AED 35.3 billion as of 31 March 2026. International (non-UAE) markets accounted for 20 percent of the backlog, while the UAE accounted for the remaining 80 percent.
Capex spending reached AED 121 million in the quarter ended March 31, 2026, mainly related to maintenance capex.
Net profit dropped 63 percent year-on-year (YoY) to AED 80 million, as revenue rose 30 percent YoY to AED 5 billion in Q1 2026, the statement said.
(Writing P Deol; Editing by Anoop Menon)
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