Gujarat Mineral Development Corporation (GMDC) today reported a 26.6 per cent drop in standalone net profit at Rs 82.29 crore for the third quarter ended December 31 on the back of lower income from operations.
The company's net profit in the corresponding quarter of the last fiscal stood at Rs 112.2 crore, Gujarat Mineral Development Corporation said in a filing to BSE.
Total income from operations of the company during October-December 2013 period came down to Rs 290.98 crore from Rs 353.37 crore in the same quarter last financial year, it said.
Total expenses of the company dropped to Rs 198.89 crore, over Rs 206.95 crore in the same period previous year, it added.
Shares of the company closed at Rs 103.90 apiece on BSE, down 0.24 per cent from their previous close.
