GMDC Q1 Profit Falls 16% To Rs 184 Cr
Despite the decline in profit, the company's revenue from operations increased by 6.9 per cent to Rs 818 crore, compared to Rs 765.6 crore in the corresponding period of the preceding fiscal
State-owned Gujarat Mineral Development Corporation (GMDC) reported a 15.9 per cent year-on-year (YoY) decline in net profit to Rs 184 crore for the first quarter that ended 30 June 2024. In the corresponding quarter last year, GMDC posted a net profit of Rs 218.7 crore, according to a regulatory filing by the company.
Despite the decline in profit, the company's revenue from operations increased by 6.9 per cent to Rs 818 crore, compared to Rs 765.6 crore in the corresponding period of the preceding fiscal.
At the operating level, Ebitda fell 14.3 per cent to Rs 211.5 crore in the first quarter of this fiscal year, down from Rs 246.8 crore in the same period last year. The Ebitda margin stood at 26 per cent in the reporting quarter, compared to 32.2 per cent in the corresponding period of the previous fiscal. Ebitda represents earnings before interest, tax, depreciation, and amortisation.
The decline in profit and Ebitda indicates challenges faced by GMDC in maintaining its profitability despite an increase in revenue. The lower Ebitda margin suggests increased costs or reduced operational efficiency in the current quarter.
GMDC, a leading mining and mineral processing company in Gujarat, continues to navigate through fluctuating market conditions and operational challenges, striving to enhance its performance and sustain its growth trajectory.
