GMDC Q2 results: mining revenue recorded at Rs 593.01 crore

New Delhi: Gujarat Mineral Development Corporation (GMDC) has announced the unaudited consolidated results for the quarter ended September 30, 2024. As per the financial results, the state-owned mining and mineral processing company reported total revenue from operations of Rs 593.01 crore, reflecting a decrease from Rs 818.13 crore in the previous quarter.

On a year-on-year basis, however, the company posted a significant increase from Rs 382.74 crore in the same quarter last year. In terms of segment performance, the mining segment contributed Rs 553.58 crore to revenue, while the power segment generated Rs 39.45 crore.

The mining segment demonstrated robust performance, with operating results of Rs 216.09 crore, up from Rs 81.57 crore in the prior quarter.

In terms of the power segment, the company rebounded to an operating profit of Rs 4.16 crore after experiencing a loss of Rs 8.54 crore in the previous quarter.

GMDC's net profit before tax and exceptional items for the quarter was Rs 249.16 crore. This was bolstered by interest and dividend income of Rs 52.25 crore. Despite a negative impact from unallowable corporate results of Rs 30.83 crore, the overall results reflect resilience and growth.