GMDC, a debt free PSU, is into mining, mainly lignite and power generation posted exceedingly good numbers for Q4FY17, driven mainly by strong topline. Notwithstanding the 32% (YoY) increase in total costs, the 49% rise in total income helped the company end the quarter with a 2.3 times rise in net profit at Rs.90 crore v/s Rs.39 crore in previous Q4. 80% of its income comes from mining and 20% from power.
The company ended FY17 also on a strong note with a 48% increase in consolidated net profit at Rs.324 crore. Its lignite sales volumes was at 76.5 lakh tonne and plant load factor (PLF) for the power business stood at 64% for FY17.
The company’s equity stands at Rs.64 crore and EPS for the year was at Rs.10.19 (FV of Rs.2). Reserve is strong at Rs.3944 crore.
Little wonder then that the stock price hit a new high today at Rs.145; a pretty remarkable rise given yesterday’s close of Rs.125.45.