Deccan Gold Mines Ltd Reports Widened Loss Amid Revenue Growth
Deccan Gold Mines Ltd (DGML) reported a consolidated loss of Rs 68 crore for the quarter ending March 31, 2024, compared to a Rs 90 lakh loss in the same period last year. Despite the widening loss, DGML's income from operations increased to Rs 3.2 crore from Rs 9 lakh. The company, active in gold exploration in India and abroad, has made significant discoveries in Karnataka.
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- India
Deccan Gold Mines Ltd (DGML) on Thursday reported widening of consolidated loss to Rs 68 crore for the quarter ended March 31, 2024.
The company had posted a loss of Rs 90 lakh in the year-ago period, DGML said in a filing to BSE.
Income from operations in the quarter was Rs 3.2 crore as against Rs 9 lakh in the year-ago period.
DGML is the first and the only gold exploration company listed on the BSE. It was established in 2003.
It has been involved in gold exploration activities in India and overseas. Its exploration in India, particularly in Karnataka led to discovery of open pittable gold deposits in the Archean greenstone belts of Dharwar Craton. These deposits are in Hutti and Dharwar-Shimoga belts.
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