MMTC Ltd shares plunged over 7 per cent after the company reported a standalone net loss of Rs 20.82 crore in the March quarter.

The stock dropped 7.35 per cent to Rs 54.80 on the BSE.

On the NSE, shares of the company declined 6.93 per cent to Rs 55.

In terms of volume, 1.36 lakh shares of the company were traded on BSE and over 5 lakh shares changed hands on the NSE during the morning trade.

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 against Rs 1,994.68 crore in the corresponding period last year.

Total expenses during the quarter also shot up to Rs 2,575.4 crore from Rs 2,006.75 crore a year ago.

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