MMTC Shares Plunge 3.2% as Q3 Profit Nosedives 40%

MMTC Ltd (MMTC.NS) shares tumbled 3.2% in early trade following disappointing Q3 FY25 results. The state-owned trading company reported a steep 40% year-on-year decline in net profit to ₹22.90 crore for the quarter ended December 2024. Revenue plummeted 59.7% to ₹0.73 crore, reflecting challenging market conditions. The company's performance was impacted by reduced trading volumes and lower commodity prices. Despite the profit slump, MMTC's board is set to meet on February 13, 2025, to consider and approve the financial results. Analysts expect continued pressure on margins in the near term as global trade uncertainties persist.

 

Sources: Moneycontrol, NSE India, Yahoo Finance