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At 6 times FY19 estimated earnings, GMDC remains one of our attractive picks in the mining space
Gujarat Mineral Development Corporation (GMDC) posted a good quarter. In an interview to CNBC-TV18, L Kulshrestha, CFO of GMDC spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, L Kulshrestha, CFO of Gujarat Mineral Development Corporation (GMDC) spoke about the results and his outlook for the company.
Net Sales are expected to increase by 43.4 percent Q-o-Q (up 39.9 percent Y-o-Y) to Rs 530 crore, according to HDFC Securities. GMDC to report net profit at 70 crore up 58.1% quarter-on-quarter.
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.
Sales are expected to decrease by 23.5 percent Q-o-Q (up 23.3 percent Y-o-Y) to Rs 305.4 crore, according to ICICI Securities.
The FY17 lignite volumes would be more than 80 lakh tonnes, said L Kulshrestha, CFO, GMDC.
Sales are expected to decrease by 10.5 percent Q-o-Q (up 1.6 percent Y-o-Y) to Rs 321.6 crore, according to ICICI Securities
With the removal of restriction of selling lignite to only end-users, GMDC hopes to see incremental revenue going forward