MMTC reports Rs 7 crore loss in Q1

State-run trading firm MMTC today reported a net loss of Rs 7.01 crore in the first quarter ended June 30, 2016.

The company had incurred a net loss of Rs 30.55 crore during the corresponding quarter of 2015-16.

MMTC's net income from operations stood at Rs 2,782.18 crore during the April-June quarter, against Rs 2,035.56 crore in the year-ago period.

However, the company's total expenses rose significantly to Rs 2,810.32 crore, as against Rs 2,080.42 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing.

The company did not provide the consolidated results on a quarterly basis for the March quarter.