GMDC is at a new high

GMDC is the top gainer on the BSE since the opening bell; it has already hit a new 52-week high at Rs.100.50 and now remains over 9% up at Rs.99 levels, with over 2 times surge in volumes.

This resurgence into the limelight today morning is on account of its very good performance for Q1FY17, which was totally unexpected.

A PSU, it is a major minerals and lignite mining company and it posted a very healthy 59% (YoY) rise in net profit at Rs.115 crore on a 27% jump in total income at Rs.399 crore.

The company’s EBITDA was up 41% at Rs.139 crore while margins rose 35% from 31%. The company’s lignite volumes rose 14% at 21 lakh tonnes. In terms of verticals, mining revenue rose 30% while power segment rose 16%. The Plant Load Factor of wind farms rose 36%.