Net sales jumped to Rs 16.62 crore in the second quarter from Rs 5.20 crore recorded in the same period last year.

Total expenditure rose by 82.2% year-over-year to Rs 13.61 crore in Q2 FY24. Interest outgo and depreciation charges for the period under review amounted to Rs 7.46 crore (up 11.5% YoY) and Rs 0.56 crore (down 5.1% YoY), respectively.

In the September 2023 quarter, the company posted a pre-tax loss of Rs 3.24 crore as against a pre-tax loss of Rs 6.96 crore in the corresponding period last fiscal.

Deferred tax write-back for Q2 FY24 was Rs 5.16 crore as compared with Rs 1.11 crore in Q2 FY23.

The Orissa Minerals Development Company (OMDC) is a public sector undertaking company in the Indian states of Odisha under administrative control of Department of Steel and Mines, Government of Odisha. It is engaged in the mining and production of iron ore and manganese ore.

The scrip had declined 1.15% to end at Rs 6894.65 on the BSE on Friday.