MMTC shines bright

about 3 years ago
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MMTC posted a fantastic set of numbers for the third quarter ended 31st Dec 2017. Except for the agro segment, all other segments did very well – fertilisers, precious metals, metals, minerals, coal and hydrocarbons; all these verticals together are what helped the company end Q3FY17 with a fantastic jump up in net income at Rs.4950 crore, up from Rs.3635 crore.

This increase in topline percolated down to the bottomline – net profit rose almost 4 times to Rs.74 crore from Rs.20 crore (YoY). This was despite total operating expenses jumping up over Rs.1000 crore to Rs.4933 crore.

The market has most obviously loved these numbers and this is reflected in the stock price, up currently 5.5% at Rs.66.40 and it has been amongst the top three gainers since the opening bell.

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