MMTC Revenue from exports increased by 384%
- IBEF
- November 15, 2019
Metals and Minerals Trading Corporation of India (MMTC) declared its financial results for the half year ended on 30th September 2019. The company has achieved revenue from operations of Rs 13176 crore (US$ 1.89 billion) as against the revenue from operations of Rs 12511 crore (US$ 1.79 billion) during the corresponding period last year registering a growth of 5 per cent over the same period last year.
MMTC has posted a net profit of Rs 43.28 crore (US$ 6.19 million) during the period as compared to the net profit of Rs 41.62 crore (US$ 5.96 million) during the same period last year registering an increase of 4 per cent over the same period last year.
Revenue from exports increased by 384 per cent to Rs 862 crore (US$ 124 million) as compared to Rs 178 crore (US$ 25.47 million) during the corresponding period last year.
Revenue from imports increased by 25 per cent to Rs 10756 crore (US$ 1.54 billion) as compared to Rs 8619 crore (US$ 1.23 billion) during the corresponding period last year.
Other income increased by 105 per cent to Rs 21 crore (US$ 3 million) as compared to Rs 10 crore (US$ 1.43 million) during the corresponding period last year.
These achievements have been made inspite of adverse global market scenario and by overall reduction in overheads and other costs.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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