Gujarat Mineral Development Corporation Share Price in Focus; Q2 Profit Gets Boost From ₹474 Crore Exceptional Income

Gujarat Mineral Development Corporation (GMDC) has announced its results for the September quarter. Standalone total income from operations stood at ₹902.97 crore, while profit after tax came in at ₹171.23 crore. 

The results also include an exceptional income of ₹474.43 crore linked to the recognition of GST input tax credit. 

What the September Quarter Results Show 

GMDC reported standalone profit before tax of ₹234.60 crore for the quarter ended September 30, 2026. For the first half of FY27, total income from operations reached ₹1,809.61 crore. 

The company operates across mining and power. Its segment figures show mining revenue of ₹809.90 crore and power revenue of ₹135.97 crore during the quarter, before inter-segment adjustments. 

GST Credit Adds to Quarterly Income 

The company explained that changes in GST rates on lignite, effective September 22, 2025, have made it possible to use input tax credit that had been written off in earlier periods.

GMDC recognised ₹474.43 crore as an input tax credit asset and recorded the corresponding amount as exceptional income in the September-quarter results. This is an important part of the reported profit figure and should be considered when assessing the quarter's performance. 

Read More: PhysicsWallah Share Price Rises; Posts Q2 FY26 Results With 70% YoY Profit Growth! 

GMDC Share Price Performance 

As of October 30, 2026, GMDC share price was closed at ₹411.65 per share, reflecting a 6.18% decline from previous closing price. 

Conclusion 

GMDC's September-quarter numbers include a substantial one-time exceptional income from GST credit recognition. The distinction between this item and income from regular operations is important when reading the company's latest results. 

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