Gujarat Mineral Development posts Rs 150.62 crore profit in September quarter

20 Oct 2022 , 10:06 AM

Gujarat Mineral Development Corporation Ltd, a leading Mining PSU enterprise and the largest lignite seller in the country, has announced itsfinancial results for the second quarter and half year ended on September 30, 2022.

Highlightsfor Q2 FY23 (YoY) Standalone Financials

• Total income stands at Rs591.70 crore as against Rs494.30 crore in Q2 FY22
• Revenue from Operations stood at Rs538.91 crore as against Rs451.88 crore in Q2 FY22
• Profit Before Tax stands at Rs203.97 crore as against Rs49.18 crore in Q2 FY22
• Profit After Tax reported was at Rs150.62 crore as against Rs41.13 crore in Q2 FY22
• EPS stands at Rs4.74 (Face Value Rs.2 pershare)

Production Highlights
Power segment posted a growth of with 51% total MU’s generated at 595.65 in H1FY23 as against 395.41 MU in H1FY22.

Commenting on the financial performance of the company, Roopwant Singh, IAS, Managing Director, GMDC said, “Overall we have made significant progress across our strategic priorities, creating value for all stakeholders. We are on track to delivering what we had promised during our earlier interactions with the investors.

Operationally, we have delivered a robust set of numbers driven by our performance and supportive commodity prices. I can assure our investors that we are doing our best to turn around our power segment. We are committed to making GMDC stronger through growth, operational efficiencies, unlocking through technology and digitalization.”

At around 10:07 AM, Gujarat Mineral Development Corporation Ltd is currently trading at Rs141.30 per share down by Rs1.85 or 1.29% from its previous closing of Rs143.15 per share on the BSE.

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