MMTC REPORTS A DECLINE OF 50% IN NET PROFIT IN Q1
PSU

MMTC REPORTS A DECLINE OF 50% IN NET PROFIT IN Q1

sarkarimirror

NEW DELHI: Trading giant MMTC  reported a decline of 50 per cent in its net profit at Rs 6.02 crore in the first quarter ended June 30, 2013 due to a hike in total expenses.

The company’s net profit was Rs 12.06 crore during the same period last year, MMTC said in a BSE filing.

Total expenses increased to Rs 8,826 crore in the first three months of the current fiscal from Rs 6,329 crore in the comparable period.