** Shares of Fortescue FMG.AX fall as much as 7.6% to A$17.98, set for their biggest intraday drop since October 8; stock last down 5.4%

** The world's fourth-largest iron ore miner posts an interim underlying attributable net profit after tax at $1.55 billion for the half year, 53% drop from a year ago

** Co's profit hurt by moderated iron ore prices due to weak demand from China's property sector

** S&P/ASX 200 Metals and Mining Index .AXMM down 2.1%

($1 = $1.0000)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))