MMTC Q4 net profit rises 16 per cent to Rs 38 crore

NEW DELHI: State-run trading firm MMTC today reported 16 per cent rise in its net profit at Rs 37.98 crore for the fourth quarter ended March 2015.

The company's standalone profit was Rs 32.73 crore in the same period a year ago.

Total income from operations rose 20.14 per cent to Rs 5,030.86 crore from Rs 4,187.45 crore during the period under review.

For entire fiscal ended March 2015, standalone net profit of MMTC surged 2.5 times to Rs 47.91 crore from Rs 18.64 crore in the previous fiscal.

The total income of the company, however, declined 27.64 per cent to Rs 18,284.28 crore at the end of 2014-15 from Rs 25,269.51 crore at the end of 2013-14.

The consolidated annual net loss of the public sector unit widened to Rs 42.48 crore during the fiscal from net loss of Rs 18.16 crore it posted a year ago.

The total consolidated income of MMTC in 2014-15 declined by about 15 per cent to Rs 23,931.64 crore from Rs 28,142.26 crore it posted at the end of 2013-14.

MMTC shares closed 2.53 per cent up at Rs 52.6 per unit on the BSE.