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

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Markets are up today.

Markets yet in green still didn’t give up its morning gains.

Our stock most targets achieved.

Sugar stocks have surged followed by real Estate stocks.

Good global cues. All Asia has ended in green. Europe has opened a higher note.

Major gainers are – (In A Group)

India Infoline

Guj. Mineral Dev

MMTC Ltd.

HDIL

Lanco Infratech Ltd.

Major Losers (In A Group)

RelianceCommu.Ltd

Crompton Greaves

Sun TV Network Ltd.

Power Finance Co

Tata Power Co.

Sugar stocks such as Balrampur chini , Shree renuka sugar, Bajaj Hindustan have shoot up.

Unitech as also up 10%.

At 2.42PM Sensex is up 98 points and is at 9788.61

By

Mohit M. Mankani.

(Co-Owner of Mind The Street)

Happy Investing.

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