GMDC dropped 5.39% to Rs 72 after the company recorded a consolidated net loss of Rs 184.63 crore in Q4 FY21 compared with net profit of Rs 12.29 crore in Q4 FY20.
Revenue from operations surged 37.32% to Rs 565.80 crore in Q4 FY21 compared with Rs 412.02 crore in Q4 FY20. Pre-tax loss stood at Rs 350.36 crore in Q4 FY21 as against a pre-tax profit of Rs 34.61 crore in Q4 FY20.
During the financial year, GMDC reported a consolidated net loss of Rs 39.34 crore in FY21 compared with net profit of Rs 146.49 crore in FY20. Revenues from operations declined 11.94% to Rs 1,339.23 crore in FY21 from Rs 1,520.94 crore in FY20.
Meanwhile, the board has recommended a dividend of Rs 0.20 per share for the year ended on 31 March 2021.
GMDC is primarily engaged in exploration and development of mineral resources. As of 31 March 2021, the Central/ State Government held 74% stake in the firm.
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