Orissa Minerals Development Company achieved a significant financial turnaround in the June 2026 quarter, reporting a standalone net profit of ₹3.45 crore compared to a net loss of ₹2.79 crore in the corresponding quarter of the previous year. According to reports from Business Standard, this represents a complete reversal of the company's financial position during the same period last year.
The company demonstrated strong revenue growth with sales rising 47.91% to ₹28.65 crore in the quarter ended June 2026, as compared to ₹19.37 crore during the previous quarter ended June 2025. As reported by Business Standard, this substantial revenue increase contributed significantly to the company's improved profitability position.
The company's operating profit margin (OPM) improved to 31.52% in the June 2026 quarter, compared to 4.54% in the corresponding quarter of the previous year. According to the financial data reported by Business Standard, this significant improvement in operational efficiency contributed to the overall profitability turnaround.
The company's profit before depreciation and tax (PBDT) improved to ₹5.06 crore in the June 2026 quarter from a loss of ₹2.64 crore in the previous year's corresponding quarter. As reported by Business Standard, the profit before tax (PBT) also turned positive at ₹4.79 crore compared to a loss of ₹2.79 crore in the June 2025 quarter, indicating strong operational performance across all financial metrics.
In a significant regulatory development, Orissa Minerals Development Company has received a recommendation from the expert appraisal committee (EAC) of the Ministry of Environment, Forest and Climate Change for grant of environmental clearance for the Belkundi Iron & Manganese Ore Mine in Odisha. The project covers 1,276.79 hectares with mining activities restricted to 965.423 hectares, and proposes a production capacity of 1.8 MTPA of iron ore and 0.3 MTPA of manganese ore, providing potential access to a combined annual mineral capacity of 2.1 MTPA.
