News Details

( As on 22/09/2023 16:40)

MMTC posts Q1 net profit of Rs 2.82 cr

The company reported standalone net profit during the quarter stood at Rs 2.82 crore compared to net loss of Rs 125.74 crore in the previous year quarter.

Net revenue of the company declined substantially by 99.13 per cent at Rs 2.16 crore in April-June quarter of this fiscal as against Rs 247.70 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 75.92 per cent to Rs 65.23 crore from Rs 270.84 crore in year ago period.

Other Income grew by 212.94 per cent at Rs 28.54 crore versus (Jun'22 Rs 9.12 crore).

Operating Profit surged by 172.56 per cent to Rs -63.07 crore as against Rs -23.14 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 31162.42 per cent in June quarter.

Interest declined by 99.58 per cent y-o-y to Rs 0.47 crore, while Taxation increased by 0.00 per cent at Rs 3.79 crore (Jun'22 Rs 0.00 crore).