For the quarter ended Sept’08 GMDC reported 26% fall in net sales revenue to Rs 135.28 crore. The OPM declined by 1110 basis points 42.2%. The subsequent Operating Profit stood at Rs 57.11 crore which was 41% lower when compared with corresponding period last year.

The Expenses for overburden removal and loading of lignite, staff cost, Power & fuel, Stores consumption Increased (as a % of sales net of stock adjustment) 9.8% to 10.0%, from 9.4% to 11.1%, from 4.0% to 9.4% and from 2.9% to 14.0% respectively. The Royalty & Dead Rent and Operational Expenditure decreased (as a % of sales net of stock adjustment) from 6.5% to 3.6% and from 13.6% to 10.3% respectively.

The Other Income Increased by 35% to Rs 9.34 crore. The subsequent PBIDT for the quarter under review stood at Rs 66.45 crore which was 36% lower on a Y-o-Y basis comparison. The Interest cost and depreciation charges for the quarter under review stood at Rs 14.30 crore and 23.50 crore respectively which was 14% and 26% respectively lower when compared corresponding period last year.

The ensuing PBT stood at Rs 28.65 crore which was 49% lower when compared with quarter ended Sept’07 figures. The Tax expense for the quarter under review stood at Rs 10.01 crore resulting in a Net Profit 18.64 crore which was 55% lower on a Y-o-Y basis comparison.

Half yearly Analysis

For the half year ended Sept’08 GMDC reported a marginal 1% rise in net sales revenue to Rs 411.97 crore. The OPM declined by 950 basis points 47.9%. The subsequent Operating Profit stood at Rs 197.54 crore which was 15% lower when compared with corresponding period last year.

The Expenses for overburden removal and loading of lignite, staff cost, Power & fuel, Stores consumption Increased (as a % of sales net of stock adjustment) 8.7% to 12.6%, from 8.4% to 9.2%, from 4.5% to 6.5% and from 2.5% to 8.6% respectively. The Royalty & Dead Rent and Operational Expenditure decreased (as a % of sales net of stock adjustment) from 6.0% to 5.8% and from 12.2% to 9.7% respectively.

The Other Income Increased by 39% to Rs 19.10 crore. The subsequent PBIDT for the half year ended Sept’08 stood at Rs 216.63 crore which was 12% lower on a Y-o-Y basis comparison. The Interest cost and depreciation charges for the half year under review stood at Rs 29.27 crore and 46.99 crore respectively which was 13% and 27% respectively lower when compared corresponding period last year.

The ensuing PBT stood at Rs 140.37 crore which was 6% lower when compared with half year ended Sept’07 figures. The Tax expense for the quarter under review stood at Rs 49.38 crore resulting in a Net Profit 90.99 crore which was 51% lower on a Y-o-Y basis comparison.

For the quarter ended Sept’08 the revenue of Mining segment decreased by 27% to Rs 113.43 crore as compared to quarter ended Sept’07 figures. PBIT margins for the segment reported an decrease of 740 basis points to 51.0%. As a result the growth in profit before Interest, Exceptional items and Tax for this segment decreased by 37% to Rs 57.84 crore. This segment contributes 82% of the total sales revenue for the company and 150% of the total profit before Interest, Exceptional items and Tax of the company for the quarter ended Sept’08.

For the quarter ended Sept’08 the revenue of Power segment decreased by 7% to Rs 25.28 crore as compared to quarter ended Sept’07 figures.. This segment contributes 18% of the total sales revenue for the company for the quarter ended Sept’08.

For the half year ended Sept’08 the revenue of Mining segment increased by 5% to Rs 352.83 crore as compared to half year ended Sept’07 figures. PBIT margins for the segment reported an decrease of 580 basis points to 55.2%. As a result the growth in profit before Interest, Exceptional items and Tax for this segment decreased by 5% to Rs 194.94 crore. This segment contributes 84% of the total sales revenue for the company and 114% of the total profit before Interest, Exceptional items and Tax of the company for the half year ended Sept’08.

For the half year ended Sept’08 the revenue of Power segment decreased by 8% to Rs 65.80 crore as compared to half year ended Sept’07 figures. This segment contributes 16% of the total sales revenue for the company for the half year ended Sept’08.

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