Gujarat Mineral Development Corporation (GMDC) on Friday posted a steep rise in consolidated profit after tax to Rs 344.94 crore in the June quarter, mainly on account of higher income from operations.

The consolidated profit after tax was at Rs 37.71 crore in the year-ago period, it said in a filing to BSE.

The company’s consolidated income from operations in the latest June quarter increased to Rs 1,155.36 crore from Rs 498.33 crore in the same period a year ago.

“In the coming months, we are looking for consulting partners to leverage long term mining opportunities.

“The next few quarters will see an increase in investments across various segments, a validation of the company’s collaborative approach to business transformation,” GMDC Managing Director Roopwant Singh said.

Currently, the state-owned company has five operational lignite mines in Kutch, South Gujarat, and Bhavnagar regions. PTI SID RAM

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