The Hindu : Business : MMTC turnover to touch Rs. 10,000 cr.

Online edition of India's National Newspaper
Tuesday, Apr 06, 2004

Business

Business

MMTC turnover to touch Rs. 10,000 cr.

By Our Special Correspondent

NEW DELHI, APRIL 5. MMTC's group turnover, including its subsidiary MTPL, Singapore, is all set to reach Rs. 10,000 crores in 2003-04 while its profits are projected at Rs. 75 crores.

Briefing media persons on the provisional annual results, the Chairman and Managing Director, S. D. Kapoor, said MMTC itself would record the highest ever turnover of Rs. 9,200 crores, a growth of 48 per cent over last year when it registered Rs. 6,226 crores.

On the export front, the company is expected to record an earning of Rs. 1,930 crores. Export of mineral products increased to Rs. 1,443 crores during the just ended fiscal from Rs. 1,245 crores last year. Export turnover from jewellery exhibition was estimated at Rs. 50 crores.

Significantly, Mr. Kapoor said that imports turnover at Rs. 6,770 crores was the highest ever by the company and higher even than its total turnover in 2002-03.

Domestic business of Rs. 500 crores spurted by 213 per cent over the last year. The company sold metal products in the domestic market to net in Rs. 404 crores against Rs. 65 crores last year.

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