GMDC Shares Price: Shares of Gujarat Mineral Development Corporation Ltd. (GMDC) fell nearly 5 per cent on Friday after the company posted its September-quarter earnings, which showed that the headline profit was significantly aided by a one-time gain.
GMDC reported a net profit of Rs 466 crore, sharply higher than Rs 128 crore in the same quarter last year. However, this was supported by a Rs 474-crore one-time gain arising from GST credit on lignite following recent tax changes. Adjusted for this, the company would have reported a net loss of Rs 8 crore for the quarter.
Revenue for the quarter declined 11 per cent year-on-year to Rs 527.6 crore from Rs 593 crore last year.
The operating performance weakened sharply as well. EBITDA fell 51 per cent to Rs 69.5 crore, compared with Rs 141.4 crore a year ago. The EBITDA margin contracted to 13.2 per cent from 24 per cent, reflecting higher costs and softer demand conditions.
Stock attempts recovery
GMDC shares, which initially dropped up to 5 per cent, were trading 3.8 per cent lower at Rs 566.7 in afternoon deals as investors reacted to the weaker underlying performance. Despite the muted reaction today, the stock remains a strong performer in 2025, having risen 75 per cent so far this year.
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