MMTC reported a consolidated net profit of Rs 118.38 crore in Q1 FY23 as against a net loss of Rs 597.17 crore in Q1 FY22.
Net sales during the quarter declined by 75.8% YoY to Rs 2,255.59 crore.
Total expenditure in the first quarter dropped by 82.9% to Rs 1,743.07 crore Q1 FY23 over Q1 FY22.
The company recorded a pre-tax profit of Rs 481.15 crore in Q1 FY23 as compared with a pre-tax loss of Rs 921.56 crore in Q1 FY22.
MMTC, a public sector undertaking, was incorporated on September 26, 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. The business operations of the company span across six major divisions i.e. minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons. The Government of India (GOI) held an 89.93% stake in the company as of 30 June 2022.
The scrip fell 1.85% to currently trade at Rs 39.75 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app