Gujarat Mineral Development Corporation Ltd. News, Corporate filings and Earnings/Conference Calls

Coal company Gujarat Mineral Development Corporation announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Recorded highest-ever Revenue from Operations for Q2 at Rs 593 crore up 55% against Rs 382 crore in the same quarter Q2FY24. EBITDA reported was higher by 56% at Rs 203 crores, as compared to Rs 130 crore in Q2FY24. Profit Before Tax increased 64% at Rs 183 crore as against Rs 111 crore in Q2FY24. This is the third-highest PBT for Q2FY25 ever for the company. Profit After Tax came at Rs 129.18 crore as against Rs 76.46 crore in Q2FY24, up 69%. H1FY25 Financial Highlights: Revenue from Operations stood at Rs 1,411 crore up 23% against Rs 1,148 crore in the H1FY24 ending September 2023. This marks the second-highest revenue for H1, on record. EBITDA reported was at Rs 474 crores, up 9% as compared to Rs 437 crore in H2FY24. Profit Before Tax was higher by 8% at Rs 432 crore as against Rs 399 crore in H2FY24. Profit After Tax came at Rs 313.75 crore as against Rs 291.11 crore in H2FY24 Performance Highlights: Achieved the highest-ever Net Revenue from Operations for Q2 at Rs 593 crore. Recorded the second-highest Net Revenue from Operations for H1 at Rs 1,411 crore. Posted the third-highest Profit Before Tax (PBT) for Q2, amounting to Rs 183 crore. Lignite sales quantity increased by 81%, reaching 16.59 lakh MT compared to 9.16 lakh MT. Signed a Supplementary Agreement with GUVNL to amend the Power Purchase Agreement for ATPS. Successfully conducted and favourably concluded the public hearing for the Baitarni-West Coal Block. Total Lignite sales during Q2FY25 was 16.59 lakh MT, against 9.15 lakh MT in Q2 FY24, up 81%. Sales Value of Lignite stood at Rs 541 crore during Q2FY25, up 88.5% compared to Rs 287 crore in Q2 FY24. Renewable Energy Contributed Rs 40 Crore in H1FY25 Shri Roopwant Singh, IAS, Managing Director, GMDC said: "Despite the extended monsoon and challenging conditions, our core business in lignite has produced 39.55 MT in H1FY25, representing a 44% increase compared to the same last year. This achievement reflects our precision and careful planning in mining operations. In addition to delivering strong financial and operational performance, GMDC has made notable progress in its strategic initiatives. One of the key achievements this quarter was the successful implementation of Mission 18.0, aimed at boosting lignite sales during the monsoon quarter. Despite the seasonal challenges, GMDC achieved an 81% increase in lignite production, demonstrating the Corporation’s operational resilience. Moreover, the successful completion of the Public Hearing for the Baitarni-West Coal Block further reinforces GMDC’s growth trajectory. In addition, GMDC signed a Supplementary Agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) to amend the Power Purchase Agreement (PPA) for its ATPS project. Our forward-looking initiatives, such as the Baitarni-West Coal Block and the supplementary agreement with GUVNL, are expected to significantly contribute to our future revenue streams. Additionally, GMDC’s commitment to rare earth element project, through the Ambadongar asset, positions the Corporation to play a crucial role in India’s critical mineral supply chain.” Result PDF

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Gujarat Mineral Development Corporation Ltd. News, Corporate filings and Earnings/Conference Calls

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