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GMDC has reported a 34 per cent increase in net profit at Rs 375 crore (Rs 280 crore) for the fiscal ended March 31, 2011.
Turnover, highest in the company's 48-year history, was up 33 per cent at Rs 1,414.79 crore (Rs 1,065.22 crore). The company's shares on at the BSE on Tuesday closed 0.86 per cent down at Rs 144.20.
The board has recommended a dividend of 150 per cent for 2010-11.
The company proposes to set up a pyrite removal plant of 1.5 million tones per annum capacity at its Bhavnagar mines, which would enhance the lignite quality and benefit the end users. Similarly, it is also proposing to set up a lime crushing plant of 2 lakh tonnes a year capacity at its Panandhro lignite mines to enhance the quality of limestone for cement industry and power plants.
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