MMTC jumps on strong Q4 net growth

MMTC has added 3.5% to Rs 787 after posting a staggering jump in quarterly profit numbers.

The company has posted a net profit of Rs 89.47 crore for the quarter ending March 2012 - a jump of 483% from Rs 15.35 crore reported in the corresponding period a year ago. Total income, however, has decreased 48% to Rs 11,082.45 crore in Q4FY12 from Rs 21,340.99 crore in the year ago period.

The stock opened at Rs 768 and surged to a high of Rs 806. Currently the stock is up 3.5% at RS 786. Around 1,12,000 shares have been traded on the BSE so far, as against a two week trading average of 1,59,000 shares.