• search

Record turnover for MMTC

Written by: Staff

New Delhi, Feb 24 (UNI) MMTC, the largest international trading company of India, achieved a business turnover of Rs 11291 crore --the highest ever recorded during the nine month period in any year since the Company's inception in 1963.

The business turnover includes highest ever exports and domestic trade performance, which exceeded corresponding levels of last year by 5 per cent and 114 per cent respectively.

In imports, however, there was a marginal drop compared to last year primarily due to a steep increase in the gold prices adversely affecting its off-take and change in the regulation for funding gold imports by the RBI.

MMTC has drawn up ambitious business plans to expand its role as a trade organiser and facilitator by venturing into newer areas such as free trade warehousing zones, development of a nation-wide cold chain, entering into long-term strategic alliances for energy inputs, value addition in exports and enlarging existing franchisee network to provide domestic and export outlets for silverware and handcrafted jewellery manufactured by the craftsmen in the country.

During April-Dec '05, the company recorded profit before tax of Rs 106.7 crore despite pressure on margins and fall in the prices of minerals, pig iron and some other commodities handled by the company. MMTC, with a net worth of about Rs 820 crore and zero long-term debt, has secured earnings per share at Rs 15.84, which on annualised basis translates, to Rs 21.12 per share of Rs 10 face value each.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more