Thursday, July 24, 2008

MMTC gains on strong quarterly earnings

MMTC surged 5% to Rs 25,523.55 at 9:55 IST on BSE on reporting 38.1% surge in net profit to Rs 53.76 crore in Q1 June 2008 over Q1 June 2007.

The company announced the results after trading hours yesterday, 23 July 2008.

The stock hit a high of Rs 25,523.55 and a low of Rs 25,523.55 so far during the day. The stock had a 52-week high of Rs 56,931.50 on 12 November 2007 and a 52-week low of Rs 2751 on 24 July 2007.

The company has an equity capital of Rs 50 crore. Face value per share is Rs 10.

The current price of Rs 25,523.55 discounts its Q1 June 2008 annualised EPS of Rs 43.01, by a

PE multiple of 593.43.

The company’s net sales rose 60.8% to Rs 9777.78 crore in Q1 June 2008 over Q1 June 2007.

The state-owned MMTC (formerly Minerals and Metals Trading Corporation of India), is a leading international trading company. It trades in diverse fields like minerals, engineering, agro, marine, textiles, leather and gem & jewellery.

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