MMTC net jumps 63% in FY08

MMTC has recorded a net profit of Rs 206.15 crore in 2007-08, a 63 per cent increase over the previous year, even as turnover rose to Rs 26,276 crore in the year under review.

The enhanced profit, the highest since the company's inception in 1963, comes on the back of strong export growth and an increase in domestic trade.

The board of directors, which met here today, also approved a proposal for setting up a JV company with Tata Steel for exploration and development of mines for ferrous and non-ferrous ores, precious metals and diamonds via PPP route.