GMDC's third quarter net up by 11% at Rs 112 cr

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GMDC's third quarter net up by 11% at Rs 112 cr

Press Trust Of India / Mumbai/ Ahmedabad 01 Feb 12 | 12:48 AM

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State PSU Gujarat Mineral Development Corporation (GMDC) on Tuesday reported a 11 per cent jump in net profit at Rs 112.46 crore in the quarter ending December 31, 2011.

The company had posted a net profit of Rs 101.48 crore in the corresponding period a year ago.

During the quarter under review, the company's turnover showed growth of seven percent at Rs 384 crore as compared to Rs 360.40 crore in the corresponding period a year ago.

GMDC's foray into wind power has started generating revenues.The wind power generated total 112.5 million units. The total revenue generated from the sector stood at Rs 52 crore, a company statement said.

The Q-O-Q bauxite production rose by 28 per cent at 2.24 lakh MT in the quater ended December 31, 2011 versus 1.75 lakh MT in the previous quater ending September 2011, it said.