MMTC floats global tenders to import 60,000 tonnes of hard coking coal

Minerals and Metals Trading Corporation (MMTC), a state-owned trading firm, has floated a global tender to import 60,000 tonnes of hard coking coal expected to be shipped by the second half of July. The last date for submission of bids is June 29.

Besides, MMTC has called bids for the import of 16,000 tonnes of edible oil RBD palmolein for sale in the domestic market. The last date for submitting bids is May 31 and a decision on awarding the contract will be taken on the same day.

The company has posted a decline of 84% in its net profit of Rs 15.35 crore for the quarter ended March 31, 2011 as compared to Rs 98.95 crore for the quarter ended March 31, 2010. Its total income has increased from Rs 17399.37 crore for the quarter ended March 31, 2010 to Rs 21204.51 crore for the quarter ended March 31, 2011.

For the year ended March 31, 2011, the company has posted a net profit of Rs 112.77 crore as compared to Rs 216.24 crore for the year ended March 31, 2010, down 48%. Total income of the company has increased from Rs 45353.61 crore for the year ended March 31, 2010 to Rs 68859.82 crore for the year ended March 31, 2011.

MMTC is one of the leading companies in India which deals in agricultural commodities, fertilizers and minerals. Besides, it is also an importer of gold and silver. Presently, the trading company has an overseas office in Singapore.