Business Daily from THE HINDU group of publications
Thursday, Jul 26, 2007
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Business Daily from THE HINDU group of publications Thursday, Jul 26, 2007 ePaper |
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Industry & Economy
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PSU Corporate Results - Trading MMTC logs Rs 6,079-cr turnover in Q1
Our Bureau New Delhi, July 25 Public sector firm MMTC has logged the highest-ever first quarter turnover of Rs 6,079 crore, which is an 11 per cent rise compared with the corresponding quarter last year. The Chairman and Managing Director, MMTC, Mr Sanjiv Batra attributed the improved performance to aggressive marketing strategies focused on expanding the market and product profile, besides consolidating core areas of competence. Exports during the quarter touched Rs 746 crore, an increase of seven per cent compared with the year ago quarter. While the company imported goods worthRs 5,093 crore, a rise of about 14 per cent , its domestic trade amounted to Rs 240 crore during the first quarter. The company’s initiatives to reducecosts and prudent fund management enabled it to achieve the highest ever quarterly net profitof Rs 38.93 crore, a 17 per rise compared withthe corresponding quarter last year. As a company with a net worth of over Rs 900 crore and zero long-term debt, MMTC’s EPS (earnings per share) is Rs 7.79, which on an annualised basis works out to Rs 31.16 per share of face value of Rs 10 each, a statement said.
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