Gujarat Mineral Development Corporation Limited (GMDC) shares rose 10.15% on Nov. 4, while the state enterprise's quarter results showed revenue growth but lower reported profit against a prior-year tax-credit gain.
Muthoot Securities market data put the BSE close at ₹468.80, up ₹43.20 from the previous close of ₹425.60, and recorded 1,473,196 shares traded. BSE historical data carried by Investing.com showed the stock gained in each session from Nov. 2 through Nov. 4. It touched a 52-week intraday low of ₹394.95 on Nov. 2.
GMDC's Oct. 30 stock-exchange filing reported consolidated revenue from operations of ₹902.97 crore for the quarter ended Sept. 30, 2026, up from ₹527.58 crore a year earlier. Consolidated net profit was ₹170.79 crore, compared with ₹465.75 crore. The earlier quarter included a one-time exceptional gain of ₹474.43 crore from a goods and services tax (GST) input credit.
GMDC said it had expensed the credit previously and linked its recognition to tax changes for lignite that took effect Sept. 22, 2025. The GST rate rose from 5% to 18%, and the compensation cess was removed. Excluding exceptional items, consolidated pretax profit increased to ₹234.60 crore from ₹155.27 crore.
In a Nov. 14, 2025, release about the earlier results, then-Managing Director Roopwant Singh said the one-time input had “strengthened the quarterly financials.”
The filing also showed mining segment revenue rising to ₹809.90 crore from ₹494.78 crore, and power segment revenue reaching ₹135.97 crore, up from ₹39.83 crore. Those figures are before inter-segment adjustments. GMDC's filing did not identify a cause for the Nov. 4 share-price move.
