MMTC shares drop nearly 6% on Q4 loss
MMTC reported a standalone net loss of ₹20.82 crore in the fourth quarter
New Delhi: The scrip of MMTC Limited on Tuesday plunged over 7% after the company reported a standalone net loss of Rs20.82 crore in the March quarter.
The stock dropped as much as 7.35% to ₹ 54.80 on BSE. The scrip, however, pared some of the losses to close at ₹ 5.85, down 5.58% on BSE. At NSE, shares of the company declined 5.58% to ₹ 5.80.
In terms of volume, 1.36 lakh shares of the company were traded on BSE and over 5 lakh shares changed hands at NSE during the morning trade.
The state-run mining and metal firm had reported a net profit of Rs20.88 crore in the year-ago period. Total income for the January-March period stood at Rs2,545.37 crore, higher than the Rs1,994.68 crore in the corresponding period of last year.
Total expenses during the quarter also shot up to Rs2,575.4 crore, against Rs2,006.75 crore a year ago.
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