MMTC Ltd experienced a significant downturn in its Q4 financial performance. Net profit fell by 96.8% to Rs 2.23 crore, while revenue declined by 64% to Rs 23.00 lakh. The company's annual profit also decreased by 54.9% to Rs 86.63 crore. In response to these results, MMTC's share price dropped nearly 10% to Rs 77.30, ending a three-day rally.
30May 25
MMTC Ltd Shares Surge 54% in May Despite Weak Q4 Performance
MMTC Ltd, a state-owned trading company, experienced a 9% stock surge in morning trade, continuing a 54.33% gain in May, despite reporting a 96.85% year-on-year decline in Q4 net profit to ₹2.20 crore. Revenue dropped 53.71% to ₹48.10 crore. However, EBITDA improved by 134.09% to ₹20.60 crore, and other income increased by 21.63% to ₹47.80 crore. The contrast between weak financials and strong stock performance has puzzled market participants.