Gujarat Mineral Development Corporatio n (GMDC) posted a steady set of earnings for the quarter ended June. The year on year total income was up 27 percent at Rs 399.3 crore versus Rs 314.93 crore. Throwing more light on the numbers, CFO L Kulshrestha, told CNBC-TV18 that the company saw a 14 percent growth in lignite volumes in the first quarter at 21 lakh tonnes versus 18.37 lakh tonnes YoY. Segment-wise, the revenues for mining were up 30 percent at Rs 315.45 crore versus Rs 243 crore reported for the same quarter last fiscal. Year on year power segment revenues were up 16 percent at Rs 114.4 crore versus Rs 98.72 crore. Operating margins for Q1 came in at 34.8 percent versus 31.2 percent YoY. According to Kulshrestha, FY17 lignite volumes would be more than 80 lakh tonnes. With regards to wind power segment, he said the plant load factor rose to 36 percent.
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