MMTC net profit jumped 86.39% to Rs 12.06 crore on 73.52% fall in total income to Rs 5408.86 crore in first quarter ended June 2012 over June 2011.
The rise in profit was mainly on account of lower expenses, cost of material consumed, purchases of stock-in -trade and employee related expenditure. The company's total expenditure declined 73.9% to Rs 5326.92 crore in first quarter ended June 2012 as against Rs 20427.19 crore in year ago period
State-run MMTC is India's largest international trading company. MMTC is the largest non-oil importer in India. The Government of India holds 99.33% stake in MMTC.