The company announced the results after market hours on Friday, 25 May 2012.

Meanwhile, the BSE Sensex was up 130.95 points or 0.81% to 16,348.77.

On BSE, 23,000 shares were traded in the counter as against average daily volume of 55,416 shares in the past one quarter.

The stock hit a high of Rs 170.90 and a low of Rs 166 so far during the day. The stock had hit a 52-week high of Rs 212.60 on 29 February 2012. The stock had hit a 52-week low of Rs 137.30 on 27 May 2011.

The mid-cap stock had underperformed the market over the past one month till 25 May 2012, falling 8.93% compared with the Sensex's 5.44% fall. The scrip had also underperformed the market in past one quarter, declining 13.8% as against Sensex's 9.52% decline.

The company has an equity capital of Rs 63.60 crore. Face value per share is Rs 2.

Gujarat Mineral Development Corporation's (GMDC) consolidated net profit rose 29.9% to Rs 486.76 crore on 14.8% growth in net sales to Rs 1630.70 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

GMDC's board of directors at a meeting held on Friday, 25 May 2012, recommended a dividend of Rs 3 per share for the year ended March 2012.

GMDC is primarily engaged in exploration and development of mineral resources. The company produces lignite, bauxite, calcined bauxite, fluorspar and manganese ore. They are also engaged in the generation of power. The company offers lignite for various industrial units, including textiles, chemicals, ceramics, bricks, and captive power.