Gujarat Mineral Development Corp Q2 Profit Drops 51%
Nov 01, 2023 21:39
Gujarat Mineral Development Corp (GMDC) reported a 51% drop in Q2 profit to Rs 74.58 crore, with consolidated income also declining. Read more about the company's performance.
New Delhi, Nov 1 (PTI) State-run Gujarat Mineral Development Corp (GMDC) on Wednesday reported a 50.6 per cent drop in consolidated profit to Rs 74.58 crore for the quarter ended September 30, 2023.
The company had posted a consolidated profit of Rs 151.22 crore in the year-ago period, GMDC said in a filing to BSE.
The consolidated income of the company during the July-September period dropped to Rs 459.74 crore compared to Rs 591.45 crore in the year-ago period, the filing said.
Gujarat Mineral Development Corporation is one of the leading mining players in India. It is a state public undertaking of the Government of Gujarat.
The state-owned company currently has five operational lignite mines located in Kutch, South Gujarat, and the Bhavnagar region. It is purportedly the largest merchant seller of lignite in the country.
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