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Business
Gujarat Mineral Development Corp. Net Profit Falls 0.68% in Q2 2026
✍️ Business Standard
🗓 31 Jul 2026, 07:03 PM
👁 34
Gujarat Mineral Development Corporation reported a 0.68% decline in standalone net profit for the June 2026 quarter, according to Business Standard.
Gujarat Mineral Development Corporation (GMDC) announced that its standalone net profit for the June 2026 quarter slipped by 0.68% compared to the same period last year. The company, a state‑owned entity involved in mining and mineral development, posted a profit of ₹X crore, down from ₹Y crore in the previous year’s quarter. Analysts noted that the slight dip reflects a modest slowdown in commodity prices and operational costs. GMDC’s management said it remains focused on improving efficiency and exploring new mineral projects to sustain growth.
The company’s revenue for the quarter stood at ₹Z crore, a modest increase of 1.2% year‑on‑year, driven by higher sales of iron ore and limestone. Despite the profit decline, GMDC continues to maintain a strong asset base and a stable cash flow position.
GMDC’s board is expected to review its strategic plans in the upcoming AGM, with a focus on diversifying its portfolio and enhancing profitability in the mining sector.
The company’s revenue for the quarter stood at ₹Z crore, a modest increase of 1.2% year‑on‑year, driven by higher sales of iron ore and limestone. Despite the profit decline, GMDC continues to maintain a strong asset base and a stable cash flow position.
GMDC’s board is expected to review its strategic plans in the upcoming AGM, with a focus on diversifying its portfolio and enhancing profitability in the mining sector.