In an interview to CNBC-TV18, L Kulsheshtra, CFO of Gujarat Mineral Development Corporation (GMDC) spoke about the results and his outlook for the company.
He said that topline is lower by 2 percent due to competition from cheaper imported coal.
Kulsheshtra added that operating profit is lower owing to weaker performance from lignite business.
However, power business has reported steady performance.
GMDC's current cash balance is at Rs 1,200 crore; will use the same to invest in wind power, he said.
For entire interview, watch accompanying video.
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