MMTC Q4 net profit drops 8.26% to Rs 11.76 crore

State-owned mining and metals firm MMTC Thursday said its net profit dropped 8.26 per cent to Rs 11.76 crore in the March 2019 quarter.

The company had recorded a net profit of Rs 12.82 crore in the corresponding period lsat year.

Total income from operations in the reported quarter was at Rs 7,107.66 crore as compared with Rs 3,110.71 crore in the year-ago period.

Total expenses increased to Rs 7,082.73 crore as compared with Rs 3,098 crore, according to a regulatory filing on the BSE.

Later, the commerce ministry in a statement said that during 2018-19, revenue from operations increased by 76 per cent to Rs 28,979 crore.

Gross profit from operations increased by 42 per cent to Rs 474 crore in the last fiscal.

The company has reported consolidated profit after tax of Rs 108.72 crore as against Rs 37.52 crore during last year. MMTC has further recommended dividend at 30 per cent on paid up equity share capital for the year 2018-19, it added.

Shares of MMTC Thursday closed at Rs 27.45 apiece on the BSE, up 1.29 per cent from its previous close.

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