MMTC declines after weak Q3 numbers

MMTC fell 2.42% to Rs 46.45 at 15:29 IST on BSE after the company reported net loss of Rs 8.71 crore in Q3 December 2013 as against net profit of Rs 28.84 crore in Q3 December 2012.

The result was announced after trading hours on Friday, 14 February 2014.

Meanwhile, the BSE Sensex was up 111.23 points, or 0.55%, to 20,478.05.

On BSE, so far 89,000 shares were traded in the counter, compared with an average volume of 2.31 lakh shares in the past one quarter.

The stock hit a high of Rs 48 and a low of Rs 46.20 so far during the day. The stock hit a 52-week high of Rs 616 on 18 February 2013. The stock hit a 52-week low of Rs 37.15 on 5 August 2013.

The stock had underperformed the market over the past one month till 14 February 2014, sliding 7.57% compared with the Sensex's 3.17% fall. The scrip had underperformed the market in past one quarter, falling 6.76% as against Sensex's 0.16% decline.

The mid-cap company has an equity capital of Rs 100 crore. Face value per share is Re 1.

Net sales declined 33.31% to Rs 4775.97 crore in Q3 December 2013 over Q3 December 2012.

State-run MMTC is India's largest international trading company. MMTC is the largest non-oil importer in India.

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