MMTC Q3 results decline 36.41%

MMTC, a state-owned international trading company, disclosed a steep drop in its standalone net profit for the third quarter ended December 2008. During the quarter, the profit of the company declined 36.41% to Rs 249.10 million from Rs 391.70 million in the same quarter, last year.

Net sales for the quarter surged 99.87% to Rs 97,635.70 million, while total income for the quarter jumped 2 times to Rs 97,674.10 million, when compared with the prior year period.

The company reported earnings of Rs 4.98 a share during the quarter, registering 36.40% decline over previous year period.

Quarterly Results - Standalone (Rs in mn)
As at	Dec - 08	Dec - 07	%Change
Net Sales	97,635.70	48,848.60	99.87
Net Profit	249.10	391.70	(36.41)
Basic EPS	4.98	7.83	(36.40)

MyIRIS