GMDC rises fast, Q4 net profit goes up by 125%

DSIJ Intelligence / 10 May 2017

GMDC rises fast, Q4 net profit goes up by 125%

Stock of government of Gujarat run and mining major, Gujarat Mineral Development Corporation Ltd (GMDC), on Wednesday witnessed a significant jump almost by 15% on Bombay Stock Exchange as the company posted impressive quarterly financial result.

Stock of government of Gujarat run and mining major, Gujarat Mineral Development Corporation Ltd (GMDC), on Wednesday witnessed a significant jump almost by 15% on Bombay Stock Exchange as the company posted impressive quarterly financial result.

GMDC has reported standalone net profit of Rs 90.1 crore for the quarter ended March 31, 2017, an increase of 125 per cent against Rs 39.54 crore for the same quarter in the previous year.

GMDC's stock witnessed a spurt in the volume by more than 21.89 times and hit an intraday high of Rs 145 per share on the BSE.

It is trading up by 7.2% at Rs 134 per share at 1245 IST on BSE.

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