MMTC Q2 net profit plunges to Rs 10.45 crore

Total expenses reduced to Rs 1,434.51 crore as compared to Rs 4,931 crore a year ago

State-run trading firm MMTC's net profit plunged to Rs 10.45 crore for the second quarter ended September as against Rs 44.6 crore in the year-ago period.

The company's net income from operations during the quarter under review stood at Rs 1,405.97 crore, much lower than Rs 4,896.36 crore in the corresponding period last year.

However, its total expenses also reduced to Rs 1,434.51 crore as compared to Rs 4,931 crore a year ago, according to a regulatory filing.

The company did not provide the consolidated results on a quarterly basis for the September-end quarter.

MMTC's scrip was down 0.45 per cent at Rs 54.70 at the day's close on the BSE.