GMDC PAT increases 59 per cent sequentially in Q1FY18

GMDC reported its results for the quarter ended June 30, 2017 on Wednesday.

The company reported total sales of Rs 583.1 crore for Q1FY18, which represents a 7.2 per cent sequential increase and 42.1 per cent YoY increase.

The company's operating profit (EBIT) for the quarter was Rs. 144.7 crore and its EBIT margin stood at 24.8 per cent.

It reported PAT of Rs 142.9 crore, which represents a sequential QoQ increase of 58.8 per cent and a YoY increase of 24.5 per cent.

Gujarat Mineral Development Corporation Limited (GMDC) is a major minerals and lignite mining company in India. It is a company owned by the Government of Gujarat. Its product range includes essential energy minerals like lignite, base metals and industrial minerals like bauxite and fluorspar.

The company's stock today opened at Rs 138.85 and touched intra-day high and low of Rs 142.2 and Rs 137.6, respectively, on the BSE.