Gujarat Mineral Development Corporation (GMDC) on Friday reported a 63.3 per cent drop in consolidated profit to ₹170.79 crore in the quarter ended September 2026.
The company had posted a profit of ₹465.75 crore in the year-ago period, GMDC said in a filing to BSE.
The total income of the company during the July-September period increased to ₹986.78 crore from ₹635.76 crore in the year-ago period, the filing said.
GMDC continues to play a role in meeting the country’s energy needs. The company is expanding beyond mining into a multi-mineral, multi-geography enterprise, in line with national priorities.
GMDC is investing in blue hydrogen production through underground coal gasification at its Burapahar site in Odisha. The technology is intended to access deep reserves while reducing surface-level impact and emissions.
The company has expanded into Odisha with the acquisition of three major coal mines, marking a strategic shift that reinforces its commitment to securing India’s thermal coal supply and supporting core sectors like infrastructure and manufacturing.
At the same time, the company is advancing into the future-facing domains of copper and rare earth elements through its projects at Ambaji and Ambadungar. These resources are central to India’s aspirations in electric mobility, electronics, and renewable technologies — sectors that demand not only innovation, but also mineral independence.
Published on October 30, 2026
