India's Gujarat Mineral Development Corp drops 7% after Q1 profit falls

Gujarat Mineral Development

01/08/2023 10:39

** Shares of Gujarat Mineral Development Corporation
 GMDC.NS  fall as much as 7.13% to 168.70 rupees, mark sharpest
intraday pct loss since June 20, 2022
    ** The Indian mining and power co reported 36.6% YoY fall in
June-qtr consolidated profit while rev from ops fell 33.7% YoY
    ** Revenue from mining and power segments fell 33.6% and
28.3% respectively
    ** More than 6.6 mln shares change hands by 3:02 p.m. IST,
3.3x 30-day avg
    ** Stock up 17.1% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com; +91 7982114624;))