Orissa Minerals Development Co. reports quarterly profit, addresses land and mining issues

The Board of Directors of The Orissa Minerals Development Company Limited approved the unaudited standalone financial results for the quarter and half-year ended September 30, 2025, during a meeting held on December 19, 2025. The company reported a net profit of INR 314.11 Lakh for the quarter, following a loss of INR 278.61 Lakh in the preceding quarter. Revenue from operations for the quarter stood at INR 2,512.75 Lakh.

Mining operations at Belkundi and Bhadrasai Mines remain suspended due to a lack of statutory clearances, though renewal processes are underway. The Bagiaburu Iron Mines commenced operations on December 14, 2023. Total land disclosed in the financial statements is 284.17 acres, with 61.795 acres held in the company’s name, and 41.416 acres reported under encroachment.

The company does not conduct quarterly qualitative and quantitative analyses of its mines stock; such assessments are performed annually by an independent stock verifier. The financial statements have been prepared on a going concern basis, reflecting ongoing efforts to renew mining leases.