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GMDC shares rise 15.58% after strong Q4 results

LiveMint logoLiveMint 10-05-2017 Ashwin Ramarathinam

Mumbai: Shares of Gujarat Mineral Development Corp. Ltd (GMDC) gained as much as 15.58% to Rs145 per share, its highest since November 2014, on the back of strong Q4 results.

Profit after tax increased 125% to Rs90.1 crore. Standalone revenue rose 44.4% to Rs525.5 crore on a year-on-year (y-o-y) basis, driven by increase in revenue from mining operations by 60% y-o-y to Rs486.49 crore.

Earnings before interest, tax, depreciation and amortization (Ebitda) for the quarter rose by 87% to Rs148.57 crore with a corresponding margin expansion of 644 basis points.

One basis point is a hundredth of a percentage point.

Revenue for full year gained 30% to Rs1,582.23 crore, Ebitda rose 38% to Rs465.13 crore and net profit of Rs324.2 crore was up 44% y-o-y.

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