GMDC Net surges 11%; declares dividend of Rs 2 per share

Gujarat Mineral Development Corporation LtdGujarat Mineral Development Corporation Ltd (GMDC) has reported 11 per cent surge in its net profit at Rs 70.60 crore for the quarter ended March 31, 2009.

The company had posted a net profit of Rs 63.68 crore in the March quarter of FY'08.

Further, the total income of the company has also increased to Rs 338 crore during the quarter as against Rs 328.50 crore in the corresponding period the previous fiscal.

For fiscal year 2008-09, the company posted a net profit of Rs 236.30 crore for the year ended March 31, 2009 as compared to Rs 263.93 crore for the year ended March 31,
2008.

Total Income has surged from Rs 1021.74 crore for the year ended March 31, 2008 to Rs 1023.80 crore for the year ended March 31, 2009.

Apart from announcement of results, the company has recommended a dividend of 100% or Rs 2.00 per share for the financial year 2008-09.