The MMTC-promoted bullion refinery today said it aims to produce 100 tonnes of gold and silver each in the current fiscal.
The company had refined 55 tonne of gold and 15 tonne of silver in the last fiscal.
"We are going refine 100 tonnes each of gold and silver in this fiscal," MMTC Pamp India Ltd Managing Director Rajesh Khosla told reporters on the sidelines of an event organised by industry body Assocham.
The company will import 100 tonnes of gold and plans to utilise fully its refining capacity this year, he said.
MMTC Pamp, jointly built with Switzerland's PAMP SA, has a capacity to refine 100 tonne gold and 600 tonne silver. Its refining and bar manufacturing plant is situated in Haryana.
Khosla further said the higher utilisation of refining capacity would help the company improve its performance in the current fiscal.
"We are expecting net profit to be more than double this fiscal. We had achieved a net profit of Rs 44 crore in 2012-13," he said.
Similarly, the turnover of the company is expected to at least double from Rs 12,500 crore in the last fiscal, he added.
Although India is the world's largest gold consumer, it mines only 1.5 tonne, as against the demand of around 1,000 tonnes. The demand is met through imports.
