MMTC Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 13, 2023 at 07:25 am
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MMTC Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 7,631.6 million compared to INR 23,206.3 million a year ago. Revenue was INR 7,880.9 million compared to INR 23,218 million a year ago. Net income was INR 975.5 million compared to net loss of INR 739 million a year ago. Basic earnings per share from continuing operations was INR 0.65 compared to basic loss per share from continuing operations of INR 0.49 a year ago. Diluted earnings per share from continuing operations was INR 0.65 compared to diluted loss per share from continuing operations of INR 0.49 a year ago.
For the nine months, sales was INR 28,199.8 million compared to INR 95,406.5 million a year ago. Revenue was INR 28,696.9 million compared to INR 95,531.6 million a year ago. Net income was INR 15,524.3 million compared to net loss of INR 3,807.6 million a year ago. Basic earnings per share from continuing operations was INR 10.35 compared to basic loss per share from continuing operations of INR 2.54 a year ago. Diluted earnings per share from continuing operations was INR 10.35 compared to diluted loss per share from continuing operations of INR 2.54 a year ago.
MMTC Limited is an India-based trading company. The principal activities of the Company are the export of minerals and the import of precious metals, non-ferrous metals, fertilizers, agro products, coal, and hydrocarbons, among others. Its trade activities span across various countries in Asia, Europe, Africa, the Middle East, Latin America, and North America. Its segments include Minerals, Precious Metals, Metals, Agro Products, Coal & Hydrocarbon, Fertilizer and General Trade/others. The Company is engaged in trading agricultural products, such as wheat, rice cleared of the husk, corn, soybean food, edible oil, and pulses, among others. The Company is engaged in exploration, search, prospecting, development, extraction and exploitation of the mineral blocks/deposits. It sells imported non-ferrous metals, minor metals, industrial raw materials, and non-ferrous metal alloys. It imports gold, silver, platinum, palladium, rough diamonds, emeralds, rubies, and other semi-precious stones.