MMTC registers profit of Rs 94.25 crore

New Delhi, May 1 (UNI) Mineral and Metal Trading Corporation of India Limited (MMTC), a leading public sector trading company, today announced a net profit of Rs 94.25 crore for the year ending March 31, 2006.

The company has reported a turnover of Rs 16,385 crore for the year ended 31 March, 2006 as against Rs 15,123 crore for the same period last year.

The company's earnings per share were Rs 18.35 on the face value of Rs 10 during 2005-06, a release said here today.

While announcing the results, MMTC CMD S D Kapoor attributed the company's performance to the realignment in business stategy, optimal resources management and other strategic initiatives undertaken in various aspects, including logistics and service quality.

The company is making strategic investments in various trade related infrastures with a view to provide an impetus to its existing and proposed lines of business. Some of the initiatives are setting up of free trade and warehousing zones at different locations in India, acquisition of coal mines in the country and abroad, and setting up of coal washeries.

It also plans to set up Wind Energy farms and thermal power plants in Haryana, Orissa, and Gujarat. In addition work is also progressing on setting up of a nationwide coal chain as well as Land Customs Stations at various locations along the border of India with neighbouring countries.

UNI SBJ RA ND2005