State-run MMTC Ltd said its net profit for the September quarter fell 16.2% to Rs40.7 crore from Rs48.9 crore a year ago, despite robust revenues.
During the quarter to end-September its total revenues grew 78.2% to Rs1685.5 crore from Rs945.6 crore. The decline in net profit was mainly due to a fall in other incomes which came down to Rs4.3 crore in the September 2010 quarter from Rs 16.4 crore same period last year, the company said in a regulatory filing.
On Friday, MMTC shares fell 2.2% at Rs1,263 on the Bombay Stock Exchange, while the benchmark Sensex declined 2.1% to 20,156 points.
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