MMTC Q3 net rises 12.8% to Rs 28 cr

State-run trading firm MMTC said its net profit grew by 12.80 per cent at Rs 28.10 crore for the third quarter ended December 31, 2009 over the corresponding period a year ago.

The company had a net profit of Rs 24.91 crore in the December quarter last fiscal, public sector firm MMTC said in a filing to the Bombay Stock Exchange (BSE).

The company's total income increased to Rs 10,971.39 crore for the quarter under review from Rs 9,767.41 crore during the same period previous year, it said.

For the nine-month period ended December 31, 2009, the public sector undertaking's net profit declined to Rs 118.27 crore from Rs 125.45 crore in the same period previous year.

Net income dropped to Rs 27,887.96 crore in the nine-month period under review from Rs 32,030.45 crore during the same period last year.

MMTC's trade activities encompass third country trade, joint ventures, link deals, all tools of international trading. It exports minerals from the country.

It also supplies gold and studded jewellery, and supplies gold on loan basis to the bullion traders and jewellers.

Shares of the company closed at Rs 33,891.30, up 0.53 per cent from the previous close on the BSE.