GMDC records 9.64 jump in profits in first quarter

Ahmedabad, July 29 (UNI) State-owned Gujarat Mineral Development Corporation Ltd has reported an increase in profits by 9.64 per cent, amounting to Rs 68.70 crore in the first quarter against Rs 62.66 crore for the corresponding period last year, excluding revenue expenditure on its power projects.

The company in a statement said, it has showed improved performance in mining activities during the three months ending June 30. It also recorded a rise in sales income by 5.21 per cent in the current financial year which amounts to Rs 121.43 crore against Rs 115.42 crore of previous year.

After incorporating the revenue expenditure of Power Project, profitability for three months ended on June 30 comes to Rs 13.59 crore.

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