State-owned Gujarat Mineral Development Corporation Ltd (GMDC) saw its net profit for third quarter of fiscal 2015-16 fall by 39.85 per cent. The company has posted a net profit of Rs 47.92 crore for the quarter ended December 31, 2015 as compared to Rs 79.68 crore for the quarter ended December 31, 2014.
On the other hand, total income of GMDC decreased from Rs 357.64 crore for the quarter ended December 31, 2014 to Rs 299.20 crore for the quarter ended December 31, 2015.
Segment-wise, while net profit for mining fell from Rs 98.48 crore for quarter ended December 31, 2014 to Rs 36.71 crore for quarter ended December 31, 2015, that for power declined from Rs 12.44 crore to Rs 11.81 crore for the said period.
Further, net sales or revenue for mining segment fell from Rs 270.43 crore to Rs 204.75 crore whereas that for power fell from Rs 79.75 crore to Rs 89.91 crore, respectively. Shares of GMDC fell by 1.62 per cent on BSE to close at Rs 60.90 per equity share on Tuesday.
