MMTC Q4 net profit falls over 84 per cent to Rs15.35 crore
13 May 2011
MMTC Ltd has reported an 84.48 per cent drop in its net profit for fiscal fourth quarter ended 31 March 2011, at Rs15.35 crore, against Rs98.95 crore during the quarter ended 31 March 2010.
Total income of the company has, however, increased to Rs21,204.51 crore during the quarter ended 31 March 2011 from Rs17,399.37 crore during the similar quarter of the previous year, unaudited figures released by the company showed.
For the year ended 31 March 2011, MMTC has posted a net profit of Rs112.77 crore against Rs216.24 crore during the previous financial year.
MMTC, the country's largest trading company, reported a 52 per cent growth in its business volumes at Rs68,687 crore during 2010-11, against a turnover of Rs45,124 crore in the previous financial year.
During the year, the company's exports stood at Rs63,152 crore while imports stood at Rs3672 crore. Domestic trade accounted for Rs1,863 crore during the year.
MMTC posted a trading profit of Rs309.70 crore during the 2010-11 financial year, marginally lower than the trading profit of Rs317.61 crore reported in the previous fiscal.
