Q3FY23 results: Net profit of GMDC rises by 78%

New Delhi: Gujarat Mineral Development Corporation (GMDC) on Tuesday reported a 77.6 percent rise in consolidated profit at Rs 266.11 crore for the quarter that ended on December 31, 2022. The company had posted a consolidated profit of Rs 149.81 crore in the year-ago period, GMDC said in a filing to BSE.

The consolidated income in the third quarter increased to Rs 911.97 crore from Rs 764.28 crore in the year-ago period, it added. "At GMDC, our hard work and strategic focus have helped position us perfectly to make the best of this environment, and our plans are focused on achieving accelerated growth.

"The next quarters will see an increase in investments across various segments, this can be seen by the number of bids GMDC has placed under the latest tranche in the commercial coal block auction recently conducted by the Ministry of Coal," GMDC Managing Director Roopwant Singh said.

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