Defying slowdown, MMTC posts Rs 43.28 crore net profit

New Delhi (NVI): Metals and Minerals Trading Corporation of India (MMTC) has recorded a half yearly net profit of Rs 43.28 crore which is a substantial increase from the last year net profit Rs.41.62 crore during the same period.

The MMTC today declared the financial results for the half year ended on 30th September, 2019.

The company has also achieved revenue from operations of Rs.13176 crore as against the revenue from operations of Rs.12511 crore during the corresponding period last year registering a growth of 5% over the same period last year.

Revenue from exports increased by 384% to Rs 862 crore as compared to Rs 178 crore during the corresponding period last year.

Revenue from imports increased by 25% to Rs 10756 crore as compared to Rs 8619 crore during the corresponding period last year.

Other income increased by 105% to Rs.21 crore as compared to Rs.10 crore during the corresponding period last year.

These achievements have been made in spite of adverse global market scenario and by overall reduction in overheads and other costs.

-sb