Orissa Minerals reports Q1 net loss amid operational challenges

The Orissa Minerals Development Company Limited reported a net loss of Rs.278.61 Lakh for the quarter ended June 30, 2025, a slight improvement from the Rs.3,144.37 Lakh loss in the previous quarter. Revenue from operations for the quarter stood at Rs.1,937.03 Lakh. Total expenses were Rs.2,381.89 Lakh, with employee benefits expenses at Rs.489.03 Lakh and other expenses at Rs.1,587.63 Lakh.

The company's mining operations for Belkundi and Bhadrasai Mines remain suspended due to a lack of statutory clearances, though mining leases are in the process of renewal. The Bagiaburu Iron Mines commenced operations on December 14, 2023. The company also identified significant outstanding statutory dues totaling Rs.9,11,30,291.98 as of the audit date.

Furthermore, out of 284.17 acres of land disclosed in the financial statements, only 61.795 acres are held in the company’s name, with 0.350 acres encroached. The remaining 222.375 acres are not held in the company’s name, of which 41.416 acres are reported to be encroached.