State-run mining major Gujarat Mineral Development Corporation Limited (GMDC) posted sharp jump in consolidated net profit at ₹345 crore for the quarter ended June 30 against ₹38 crore in the corresponding quarter a year ago.

Revenues from operations jumped 132 per cent to ₹1,155 crore (₹498 crore).

In the segment revenues, GMDC's mining operations reported 141 per cent jump in revenues at ₹1,093 crore (₹454 crore). Power revenues increased by 93 per cent to ₹104 crore (₹53 crore).

The state-owned miner is the largest lignite seller in the country with over 80 per cent of its total revenues coming from lignite. The company has five operational lignite mines in Gujarat.

GMDC shares jumped by 4 per cent to 179.5 per cent on BSE Friday.

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