Profit before tax stood at Rs 111.14 crore in Q2 FY24, down 45.51% as compared with Rs 203.95 crore recorded in the corresponding quarter previous year.

EBITDA stood at Rs 130 crore in Q2 FY24, down 41.70% YoY.

The company’s total Lignite production during Q2 FY24 was 9.15 lakh MT, against 11.40 lakh MT in Q2 FY23, showing a reduction of 20%.

Roopwant Singh, IAS, managing director, GMDC said, “Through the challenges of the past quarter, we have demonstrated resilience and a commitment to continuous improvement. While the Q2 FY24 results may not be exceptional, they reflect our determination to overcome obstacles. Our focus remains unwavering, and we are dedicated to achieving better outcomes in the future. Together, we will steer Gujarat Mineral Development Corporation towards greater success in the quarters ahead.”

GMDC is one of the public sector enterprises of the GoG, primarily engaged in mining and marketing of industrial minerals in the state. It has more than six decades of experience in the mining & minerals sector. GMDC is the leaders in exploring and exploiting lignite, Bauxite, Fluorspar, Manganese, Silica Sand, Limestone, Bentonite and Ball Clay.