Diabetic Retinopathy (DR) and Glaucoma are the eye diseases that cause progressive damage to patient's vision over time. Optic disc detection and segmentation is of significant importance for automating the screening of both diseases. The method proposed for the precise and fast segmentation of the optic disc mainly based obtaining optic disc center location using intensity profile analysis and further segmentation of chosen region of interest using L0 gradient minimization based technique. The optimum threshold was chosen for OD segmentation using Otsu's method. Performance of the technique is evaluated using Dice and Jaccard metrics that are obtained as 80.23 and 71.17 78.46 and 82.63 respectively on IDRiD and the MESSIDOR dataset. The proposed method is found to be very fast and efficient. © 2018 IEEE.