MMTC exports grow 135%
Despite low demand in global markets, MMTC has achieved a Profit Before tax of Rs. 81 Crores and Net Profit of Rs. 57 Crores, which in comparison to FY 2015-16, is an increase of 40% and 4% respectively.
MMTC also achieved growth in exports by more than 135% over previous year. The Company's turnover stood at Rs 11827 crores during FY 2016-17, while the net worth increased to Rs. 1434 crores.
This achievement was possible due to initiatives of the management towards improved efficiency and cost control .
The Company has also proposed a dividend of 30% for this year.