GMDC Q2 Results: Stock falls up to 5% after revenue falls, EBITDA halves

Shares of Gujarat Mineral Development Corporation Ltd. (GMDC) fell as much as 5% on Friday, November 14, in response to its September quarter results.

The company reported a net profit of ₹466 crore from ₹128 crore last year. The net profit was aided by a one-time gain of ₹474 crore, adjusted for which, the company would have reported a net loss of ₹8 crore. The one-time gain was due to the GST credit on Lignite due to the recent GST changes.

Revenue for the quarter declined by 11% from the year-ago period to ₹527.6 crore from ₹593 crore last year.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter more than halved, declining by 51% to ₹69.5 crore from ₹141.4 crore last year.

EBITDA margin for the quarter also narrowed by over 10 percentage points to 13.2% from 24% last year.

Shares of GMDC are looking to recover from the lows of the day, currently trading 3.8% lower after the earnings announcement at ₹566.7. The stock has risen 75% so far in 2025.