Revenue from operations declined 10% year on year to Rs 951.76 crore in the quarter ended 31 March 2023.

Profit before tax for the quarter was at Rs 616.19 crore, up 45.7% as against Rs 422.86 crore reported in Q4 FY22.

EBITDA declined marginally to Rs 456 crore in Q4 FY23 from Rs 459 crore posted in the same period las t year.

The company's revenue from Mining stood at Rs 918 crore (down 8.55% YoY) while revenue from Power was at Rs 91.02 crore (up 6.92% YoY) during the period under review.

For the full year, the company's net profit soared 199.9% to Rs 1,212.48 crore on 28.2% rise in revenue to Rs 3,501.45 crore in FY23 over FY22.

EBITDA stood at Rs 1,557 crore in FY23, registering a growth of 86.69% as against Rs 834 crore in FY22. The company's core EBITDA margin stood at 42%.

Total production across all mines during FY23 was 78.21 lakh MT, down 12.59% as compared to 89.47 lakhs MT in FY22.

In the power segment total MU's generated at 1,142 MU in FY23 as against 923 MU in FY22, showing a growth of 24%.

Meanwhile, the company's board has recommended a dividend of Rs 9.10 per equity share for the financial year ended 31 March 2023.

GMDC is one of the leading mining players in India. The state-owned company currently has five operational lignite mines located in Kutch, South Gujarat, and Bhavnagar region. It is purportedly the largest merchant seller of lignite in the country. As on 31 March 2023, Government of Gujarat holds 74% stake in the company.