Gujarat Mineral Development Corporation (GMDC) saw its shares rise over 2% following the release of its Q2 FY25 results. The company reported a 72% year-on-year (YoY) increase in net profit, supported by strong performance in its mining and power segments.
Key Financial Highlights:
- Revenue: ₹593.01 crore in Q2 FY25, a 55% YoY increase from ₹382.74 crore in Q2 FY24, though down from ₹818.13 crore in Q1 FY25.
- Segment Performance:
- Mining revenue: ₹553.58 crore, with operating results of ₹216.09 crore, up from ₹81.57 crore in the previous quarter.
- Power segment revenue: ₹39.45 crore, with an operating profit of ₹4.16 crore, rebounding from a loss of ₹8.54 crore in Q1 FY25.
- Net Profit: Profit before tax and exceptional items stood at ₹249.16 crore, buoyed by interest and dividend income of ₹52.25 crore.
As of 9:41 AM, GMDC shares were trading 1.60% higher at ₹333.65 on the NSE.
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GMDC