Gujarat Mineral Development Corporation Ltd reported a 15.9 per cent year-on-year decline in net profit at ₹184 crore for the first quarter of financial year 2024-25.
During the same quarter, last year, GMDC posted a net profit of ₹218 crore, the company said in a filing with the stock exchanges. The company’s revenue from operations stood at ₹818 crore, up 6.9 per cent against ₹765 crore in the corresponding period of last fiscal.
Lignite production in the first quarter of financial year 2025 was 22.96 lakh mt, against 18.27 lakh mt in the first quarter of the previous year, up 26 per cent. Similarly, the value of lignite sales stood at ₹753 crore during the first quarter, up 6 per cent, compared to ₹709 crore in the same period, last year.
Bauxite production during the first quarter was 0.77 lakh mt, against 0.73 lakh mt in the first quarter of 2024 fiscal, up 5 per cent. Similarly, the value of bauxite sales stood at ₹17 crore in the first quarter of the 2025 fiscal, up 8 per cent, compared to ₹16 crore in the same period, last fiscal.
The revenue from thermal projects increased by 65 per cent in the first quarter of financial year 2025 to ₹28 crore, as against ₹17 crore in the fourth quarter of 2024, the company said. The revenue from wind projects increased by 67 per cent to ₹40 crore in the first quarter of 2025, compared to ₹24 crore in the fourth quarter of the 2024 fiscal.
Managing Director, Roopwant Singh, IAS, said, “The first quarter of the financial year 2025 proved to be a pivotal quarter for GMDC. Our hard work and strategic initiatives paid off with revenue from operations. GMDC will continue to prioritise sustainable growth and strong partnerships to drive value for our shareholders and the communities we serve”.