GMDC, thanks to the tax write back, managed to show a 43% (YoY) jump in consolidated net profit at Rs.136 crore.

This jump was despite a 52% decline in net revenue at Rs.505 crore and its EBITDA was actually a loss of Rs.1 crore v/s Rs.113 crore.

The fortunes were turned around due to a deferred tax credit of Rs.8 crore and tax write back of Rs.121 crore.

The stock price remains steady, just about holding on to the green. From its close of Rs.50.30, it opened at Rs.51.80, going on to an intraday high at Rs.52. Its 20% UC for the day is at Rs.60.35.