GMDC: Profit After Tax Q2FY24, up 69%

 

  • GMDC: Profit After Tax Q2FY24, up 69% 
  • Gujarat Mineral Development Corporation Ltd, one of the leading Public Sector Enterprise in India in the mining sector 
  • Profit After Tax came at Rs. 129.18 crore as against Rs. 76.46 crore in Q2FY24, up 69% 
  • Profit After Tax came at Rs. 313.75 crore as against Rs. 291.11 crore in H2FY24 
  •   Additionally, GMDC’s commitment to rare earth element project, through the Ambadongar asset, positions the Corporation to play a crucial role in India’s critical mineral supply chain  
  • Despite the extended monsoon and challenging conditions, core business in lignite has produced 39.55 MT in H1 FY25, representing a 44% increase compared to the same last year. This achievement reflects our precision and careful planning in mining operations  
  • GMDC reports highest ever Q2 revenue Rs 593 Crore in Q2FY25, up by 69% YoY Q2 Net Profit to Rs. 129.18 Crore Lignite production peaked to 16.59MT this quarter, up by 81% YoY   
  • In addition to delivering strong financial and operational performance, GMDC has made notable progress in its strategic initiatives. 
  • One of the key achievements this quarter was the successful implementation of Mission 18.0, aimed at boosting lignite sales during the monsoon quarter. 
  • Despite the seasonal challenges, GMDC achieved an 81% increase in lignite production, demonstrating the Corporation’s operational resilience. 
  • Moreover, the successful completion of the Public Hearing for the Baitarni-West Coal Block further reinforces GMDC’s growth trajectory. 
  • In addition, GMDC signed a Supplementary Agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) to amend the Power Purchase Agreement (PPA) for its ATPS project.  

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