21 Oct 2020 | 4:43 PM

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Guj. Mineral Dev posts Q2 net profit of Rs 38.63 cr
  Gujarat Mineral Development Corporation Ltd. | 17 Jan 2020 | 10:51 AM
Published on 11-13-2019
The company reported standalone net profit during the quarter stood at Rs 38.63 crore compared to net loss of Rs 222.38 crore in the previous year quarter.


Net revenue of the company declined moderately by 8.33 per cent at Rs 298.83 crore in July-September quarter of this fiscal as against Rs 325.98 crore in the corresponding period last year.


During July-September quarter operating expenses increased by 8.48 per cent to Rs 236.86 crore from Rs 218.35 crore in year ago period.


Other Income dipped by 15.67 per cent at Rs 5.06 crore versus (Sep`18 Rs 6.00 crore).


Operating Profit slipped by 42.43 per cent to Rs 61.96 crore as against Rs 107.62 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 37.19 per cent in September quarter.


Interest declined by 2.50 per cent y-o-y to Rs 0.39 crore while Taxation decreased by 71.44 per cent at Rs 5.87 crore (Sep`18 Rs 20.55 crore).