GMDC Q2 Profit Surges 71% to Rs 128 cr

New Delhi, Oct 22 (PTI) State-owned Gujarat Mineral Development Corporation (GMDC) on Tuesday reported a 71.4 per cent rise in consolidated profit at Rs 127.86 crore for the quarter ended September 30, 2024.

The company had posted consolidated net profit of Rs 74.58 crore in the corresponding quarter of the previous fiscal year.

The consolidated revenue from operations in the July-September quarter rose to Rs 593.01 crore, over Rs 382.74 crore in the year-ago period, GMDC said in a regulatory filing.

GMDC is the country's second largest lignite-producing company.

Mining lignite from deposit-rich areas across Gujarat, GMDC markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks and captive power.