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MMTC Q1 net profit doubles to Rs 27.69 cr

State-owned mining and metals firm MMTC on Wednesday reported doubling of its consolidated net profit to Rs 27.69 crore in April-June quarter on the back of increase in revenue from fertiliser and precious metals segments.

The company had posted a net profit of Rs 13.66 crore during the corresponding period of the previous year, MMTC said in a regulatory filing to the BSE.

The company's total income in the reported quarter stood at Rs 7,216.07 crore as compared with Rs 5,182 crore in the year-ago period.

Its total expenses also rose to Rs 7,191.95 crore from Rs 5,169.43 crore a year ago.

Shares of MMTC on Wednesday closed 2.71 per cent higher at Rs 18.95 apiece on the BSE.