MMTC Q2 Results: PAT ₹9.47 Cr; H1 Profit ₹103.20 Cr
MMTC Limited (BSE: 513377 | NSE: MMTC) has announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The results were approved by the Board of Directors at its meeting held on November 10, 2026.
Standalone Financial Highlights (₹ in Crore)
| Particulars | Q2 FY27 | Q2 FY26 | H1 FY27 | H1 FY26 |
|---|---|---|---|---|
| Revenue from Operations | 1.27 | 1.10 | 1.95 | 2.46 |
| Other Income | 36.65 | 37.37 | 182.09 | 107.57 |
| Total Income | 37.92 | 38.47 | 184.04 | 110.03 |
| Profit before Exceptional Items | 16.29 | 14.33 | 140.79 | 60.20 |
| Profit Before Tax | 10.95 | 392.33 | 135.50 | 438.21 |
| Profit After Tax | 9.47 | 133.59 | 103.20 | 170.26 |
| Total Comprehensive Income | (17.64) | 107.14 | 117.59 | 176.05 |
| EPS (₹) | 0.06 | 0.89 | 0.69 | 1.14 |
Consolidated Highlights
- Q2 PAT: ₹25.17 crore (includes share of JV profit ₹15.70 crore)
- H1 PAT: ₹129.41 crore (includes share of JV profit ₹26.21 crore)
- H1 Total Comprehensive Income: ₹143.80 crore
Key Observations
- Operational revenue remained very low at ₹1.27 crore in Q2 and ₹1.95 crore in H1, reflecting limited trading activity.
- Other income (primarily interest and dividend) was the main contributor to profitability.
- Exceptional item of ₹5.34 crore in Q2 mainly relates to payment made to Chennai Port Authority under AMRCD.
- The company has introduced a Voluntary Retirement Scheme (VRS). Estimated expense of around ₹20 crore will be accounted for in the subsequent quarter.
Auditor’s Qualified Opinion
The statutory auditors have issued a qualified conclusion on both standalone and consolidated results. The qualification relates to the Anglo Coal matter:
- Estimated remaining liability: ₹170.58 crore (including interest up to 17.11.2025)
- Provision already available in books: ₹87.76 crore
- Unprovided amount of ₹82.82 crore treated as contingent liability by management
Auditors state that non-recognition of the additional ₹82.82 crore is a departure from Ind AS 37. Management has disagreed, citing availability of accrued interest on the court deposit for adjustment.
Additionally, the Audit Committee could not be constituted due to non-appointment of Independent Directors by the Government of India. The results were therefore reviewed and approved directly by the Board.