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GMDC profit rises to Rs 151 crore in July-September » PSU WATCH

New Delhi: State-owned Gujarat Mineral Development Corporation (GMDC) reported a near increase in its consolidated profit to Rs 151.2 crore on October 18 for the quarter ended September 30. The company had recorded a consolidated profit of Rs 40.4 crore during the year-period ago, GMDC said in a filing at BSE.

The public sector company’s consolidated income rose to Rs 591.4 crore in the July-September period from Rs 494.7 crore in the year-ago quarter, according to the filing.

About GMDC

Gujarat Mineral Development Corporation Ltd (GMDC) is one of the leading mining and mineral processing companies in India. It has been involved in the development of the state’s mineral resources for five decades now. This zero-debt company is India’s second-largest lignite producer. The lignite mine opened in Umarsar, Kutch by GMDC becomes the largest lignite merchant seller in the country. They typically market mined lignite to various industries including textiles, chemicals, ceramics, bricks, and captive energy.

(With PTI inputs)

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