GMDC Posts Strong Quarterly Growth with 26.3% Profit Surge

Gujarat Mineral Development Corporation (GMDC) reported a 26.3% increase in Q3 profit, totaling Rs 147.66 crore, compared to Rs 116.83 crore in the previous year's same period. The company's income rose to Rs 767.92 crore. GMDC is a leading mining and mineral processing company involved in exploring various minerals and has significant investments in energy projects.

Gujarat Mineral Development Corporation (GMDC) has announced a notable financial performance, recording a consolidated profit surge of 26.3% in the December quarter, reaching Rs 147.66 crore. This marks a significant rise from the Rs 116.83 crore profit recorded in the same period last year, as revealed in a BSE filing.

The company's total income for the quarter rose substantially to Rs 767.92 crore from Rs 624.51 crore in the previous year. As one of India's leading mining and mineral processing companies, GMDC is active in the exploration of minerals such as bauxite, manganese, silica sand, and limestone which cater to industries requiring hydrofluoric acid production, water purification, glass and ceramic ware manufacturing, and oil drilling.

In addition to its mining operations, GMDC maintains a robust presence in the energy sector with a diversified portfolio, including thermal power projects and renewable energy ventures like wind and solar power generation.

(With inputs from agencies.)