MMTC plunges into red with Rs 21 cr Q4 loss

India's largest international trading company MMTC Limited today reported a standalone net loss of Rs 20.82 crore in the fourth quarter ended March.
The state-run mining and metal firm had reported a net profit of Rs 20.88 crore in the year-ago period.
Total income for the January-March period stood at Rs 2,545.37 crore, higher than the Rs 1,994.68 crore in the corresponding period of last year.
Total expenses during the quarter also shot up to Rs 2,575.4 crore, against Rs 2,006.75 crore a year ago.
The company did not provide the quarterly results on a consolidated basis. However, for the year-ended March 31, the Group's net loss narrowed to Rs 29.76 crore, against Rs 96.68 crore in the previous financial year.

Total income during 2016-17 was Rs 11,871.83 crore, lower than the total income of Rs 12,697.04 crore in the previous year.
MMTC's scrip ended at Rs 59.15, up 0.51 per cent from its previous close on the Bombay Stock Exchange.