MMTC gains over 7% as net profit triples in Q3

The stock had reached a high and low of Rs 67.60 and Rs 65.10 respectively during the day

Shares of MMTC gained as much as 7.3% during early morning trade after the company’s Q3 net profit tripled to Rs 74 crore from Rs 19.89 crore a year ago on higher income.
 
The company's net income from operations stood at Rs 4,949.74 crore as against Rs 3,635.4 crore in the corresponding quarter of the previous fiscal.
 
According to a regulatory filing, MMTC earned higher revenue from segments like fertiliser, precious metals, metals, minerals and coal and hydrocarbon. However, it earned lower revenue from the agro product business.
 

MMTC's total expenses also shot up to Rs 4,933.62 crore during the quarter under review, as against Rs 3,622.49 crore in the year-ago period.

 
At 10:31 am, the stock was trading at Rs 66.70, up 5.8% and had reached a high and low of Rs 67.60 and Rs 65.10 respectively during the day.