Orissa Minerals Development Co. Ltd. Board Approves Standalone Financial Results for Q2 FY26
The Board of Directors of The Orissa Minerals Development Company Limited, in its meeting held on December 19, 2025, approved the unaudited standalone financial results for the quarter and half-year e...
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Why is The Orissa Minerals Development Company Limited in the news today?
The Orissa Minerals Development Company Limited (ORISSAMINE) is in the news due to the company reported a net profit for the quarter after a previous period's loss, indicating a positive turn in financial performance.
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Orissa Minerals Development Co. Ltd. Board Approves Standalone Financial Results for Q2 FY26
December 19, 2025, 06:23 PM
The Board of Directors of The Orissa Minerals Development Company Limited, in its meeting held on December 19, 2025, approved the unaudited standalone financial results for the quarter and half-year ended September 30, 2025. The board meeting commenced at 3:30 PM and concluded at 8:06 PM.
The company's mining operations for Belkundi and Bhadrasai Mines are currently suspended due to non-availability of statutory clearances, with leases in the process of renewal. The Bagiaburu Iron Mines commenced operations on December 14, 2023. A significant portion of the company's land holdings (222.375 acres out of 284.17 acres) are not held in the company's name, with 41.416 acres reported to be under encroachment. Additionally, the company has not conducted quarterly assessments of mine stock, relying on annual independent surveys. The financial results have been prepared on a going concern basis.
For the quarter ended September 30, 2025, the company reported a net profit after tax of ₹314.10 Lakhs, a significant improvement from a net loss of ₹279.61 Lakhs in the previous quarter and a profit of ₹79.16 Lakhs in the corresponding quarter of the previous year. Total income from operations for the quarter was ₹2,640.77 Lakhs. The company also reported a net profit after tax of ₹35.49 Lakhs for the half-year ended September 30, 2025, compared to a net loss of ₹128.68 Lakhs in the same period last year. The total assets as of September 30, 2025, stood at ₹50,019.78 Lakhs, with total equity at a negative ₹5122.31 Lakhs.
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