Q1FY20: MMTC consolidated net profit up 102.71%

New Delhi: India's largest trading company MMTC ltd has reported doubling of its consolidated net profit to Rs 27.69 crore in the April-June quarter on the back of an increase in revenue from fertiliser and precious metals segments.  The sales reported rise 35.34% to Rs 6886.31 crore in the quarter ended June 2019 as against Rs 5088.05 crore during the previous quarter ended June 2018. The net profit of MMTC rose 98.49% to Rs 19.73 crore in the quarter ended June 2019 as against Rs 9.94 crore during the previous quarter ended June 2018.

One of Asia's major trading companies, MMTC had posted a net profit of Rs 13.66 crore during the corresponding period of the previous year, the company said in a regulatory filing to the BSE.

MMTC's total expenses also rose to Rs 7,191.95 crore from Rs 5,169.43 crore a year ago. Shares of MMTC on Wednesday closed 2.
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71 per cent higher at Rs 18.95 apiece on the BSE.