GMDC Q4 results: Co reports net loss at Rs 185 crore

NEW DELHI: Gujarat Mineral Development Corporation (GMDC) on Tuesday reported consolidated net loss of Rs 184.63 crore for the quarter ended on March 31, 2021. However, the company had posted consolidated profit after tax (after exceptional items) of Rs 12.29 crore in the year-ago period, GMDC said in a filing to BSE.

Consolidated income from operations of the company during January-March quarter increased to Rs 565.80 crore from Rs 412.02 core in the year-ago period, the filing said.

The company said that its board has "recommended dividend of Rs 0.20 (10 per cent) per equity share of Rs 2 each for financial year ended on March 31, 2021."

GMDC is a state-owned minerals and lignite mining company based in Ahmedabad.