MMTC, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons.
Financial Results:
- MMTC Ltd. reported Total Income for Q4FY23 of ₹ 752 Crores up from ₹ 2261 Crore year on year, a fall of 67%.
- Total Expenses for Q4FY23 of ₹ 734 Crores up from ₹ 1802 Crores year on year, fall of 59%.
- Consolidated Net Profit of ₹ 9.85 Crores, down 92% from ₹ 122.54 Crores in the same quarter of the previous year.
- The Earnings per Share is ₹ 0.07, down 91% from ₹ 0.82 in the same quarter of the previous year.