MMTC's export revenue up 384% as H1 revenue hits Rs13,176 cr
15 November 2019
Metals and Minerals Trading Corporation of India (MMTC) has reported a 384 per cent increase in its revenue from exports to Rs862 crore in the April-September period of the current financial year against Rs178 crore during the corresponding period last year.
For the first half of the financial year ended 30 September 2019, the company achieved revenue from operations of Rs13,176 crore against revenue from operations of Rs12,511 crore during the corresponding period of the previous year, showing a growth of 5 per cent over the same period last year.
MMTC posted a net profit of Rs43.28 crore during H1 2019-20 against a net profit of Rs41.62 crore during the same period last year, an increase of 4 per cent year-on-year.
Revenue from exports increased by 384% to Rs 862 crore as compared to Rs 178 crore during the corresponding period last year while revenue from imports increased by 25 per cent to Rs10,756 crore as compared to Rs8,619 crore during the corresponding period last year.
Other income of the state-owned miner increased by 105 per cent to Rs21 crore aagaist Rs10 crore during the corresponding period of the previous fiscal.
These achievements have been made in spite of adverse global market scenario and by overall reduction in overheads and other costs.