Gujarat Mineral Development Corporation Limited (GMDC), Gujarat Narmada Valley Fertiliser Corporation Limited (GNVF) and other promoters of Gujarat Alkalies and Chemicals Limited are in talks with various mutual funds to acquire additional stake in Gujarat Alkalies and Chemicals. One of the mutual fund company is believed to have sold its stake while others are discussing the possibility.

Gujarat Mineral Development Corporation Limited - Shareholder/Analyst Call

Gujarat Mineral Development Corporation Limited reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported profit from operations before other income, interest and exceptional items of INR 1,464.182 million, net profit of INR 1,122.286 million or INR 3.53 per basic and diluted share before and after extra ordinary items on net sales of INR 3,533.729 million compared to profit from operations before other income, interest and exceptional items of INR 1,342.519 million, net profit of INR 1,124.611 million or INR 3.54 per basic and diluted share before and after extra ordinary items on net sales of INR 3,839.579 million for the same period last year. Profit from ordinary activities before tax was INR 1,657.460 million compared to INR 1,559.918 million a year ago. For the nine months, the company reported profit from operations before other income, interest and exceptional items of INR 5,785.529 million, net profit of INR 4,515.623 million or INR 14.20 per basic and diluted share before and after extra ordinary items on net sales of INR 12,321.270 million compared to profit from operations before other income, interest and exceptional items of INR 4,393.650 million, net profit of INR 3,281.917 million or INR 10.32 per basic and diluted share before and after extra ordinary items on net sales of INR 10,951.095 million for the same period last year. Profit from ordinary activities before tax was INR 6,740.115 million compared to INR 4,808.011 million a year ago.