Fluorspar and bauxite drag GMDC profits down 40% in December 2015 quarter
Published: Tuesday, 09 February 2016
The Indian government-owned mineral exploration and development company has reported weaker year-on-year results for the final three months of last year as the Gujarat-based miner succumbed to slowing demand and weakening commodity prices.
Gujarat Mineral Development Corporation Ltd. (GMDC) has
recorded a 40% drop in net profit for the three months ending
31 December 2015, the third quarter of the Indian fiscal year,
with the company’s total income falling by 16%
over the same period.
Net profit after tax amounted to Indian rupee...