Gujarat Mineral Development Corporation reports 41% surge in Q4 net profit

Date: 26-05-2012

Gujarat Mineral Development Corporation reported results for the quarter & year ended March 31, 2012

The Company’s net profit for the quarter ended March 31, 2012 zoomed by 40.76% of Rs. 158.64 crore as compared to Rs. 112.70 crore for the quarter ended March 31, 2011. Total Income has increased by 15.23% to Rs. 560.62 crore from Rs 486.51 crore in the corresponding quarter of the previous review.

Further, for the Year ended March 31, 2012,the Company’s net profit was up by 29.90% to Rs. 486.83 crore for the year ended March 31, 2012 as compared to Rs. 374.76 crore for the year ended March 31, 2011. Total Income has surged to 16.73% to Rs. 1704.08 crore for the year from Rs. 1459.86 crore from the previous year.

On Consolidated basis the Group’s net profit stood at Rs. 158.57 crore for the quarter as compared to Rs. 112.70 crore for the period ago, up by 40.7%. The total Income has increased by 15.23% to Rs. 560.62 crore for the quarter ended March 31, 2012 from Rs. 486.51 crore in the previous quarter.

Group’s a net profit rose by 29.89%to Rs. 486.76 crore for the year ended March 31, 2012 as compared to Rs. 374.76 crore for the year ended March 31, 2011. Total Income has increased by 16.73% 2011 to Rs. 1704.08 crore for the year ended March 31, 2012 from the previous year.