GMDC’s stock witnessed a sharp fall of over 4% after the company announced its Q2 results, which painted a mixed picture—strong headline profitability driven by a one-time gain, but clear weakness in underlying operations. As of 1:47 AM, the shares were trading 4.02% lower at Rs 565.25.
The mining major reported a net profit of ₹466 crore for the quarter, a steep jump from ₹128 crore a year ago. However, this surge was largely the result of a ₹474 crore one-time gain, which did not recur in the previous year. Without this exceptional item, the company’s profitability would have looked significantly softer.
Operational numbers highlighted the pressure on the core business. Revenue declined 11% year-on-year to ₹527.6 crore compared with ₹593 crore last year. Lower sales impacted operating performance as well, with EBITDA falling sharply by 51% to ₹69.5 crore from ₹141.4 crore. The EBITDA margin slipped to 13.2% versus 24% in the same period last year.
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