GMDC's Profit Surges by 264% Despite Income Dip

Gujarat Mineral Development Corporation (GMDC) reported a significant increase of 264% in consolidated profit, amounting to Rs 465.75 crore for the quarter ending September 30. Despite this, the company's total income saw a slight decline compared to the same period last year.

In a surprising financial turn, Gujarat Mineral Development Corporation (GMDC) announced a substantial 264% rise in consolidated profit, reaching Rs 465.75 crore for the quarter ending September 30, compared to Rs 127.86 crore in the same period last year.

Despite the impressive profit figures, GMDC experienced a decline in total income, with earnings dropping slightly to Rs 635.76 crore from Rs 655.40 crore year-over-year, as disclosed in their BSE filing.

As one of India's prominent mining and mineral processing enterprises, GMDC continues to navigate the challenges and opportunities in the sector, balancing profitability with fluctuating income levels.

(With inputs from agencies.)